Tim Draper Is Bullish On Argentina's Blockchain Tech Potential

Published on by Coindesk | Published on

In a talk at the Bitcoin2019 conference, Draper revealed his perspective on the implications of his bet with Argentina's current president which he made this year as reported by national media.

Draper said that that Bitcoin would reach $250,000 between 2022 and2023, outpacing the entire currency market by far.

"Bitcoin will own a 5% of the global currency market. This will definitely happen", Draper said.

"People are going to choose Bitcoin over pesos when they see all they can do with Bitcoin. That's why I made the prediction and then the bet as a joke with the President," Draper said.

Draper, for one, is worried about the President's future.

"His popularity is going down," Draper said during the panel.

According to Draper, the solution lays in making Argentina open to investment.

"The only way to grow is to be the country all the entrepreneurs want to go to. This is one of those moments when a President can have an important impact on his country," Draper said.

According to Draper, an investment in Argentina's tech infrastructure is key.

"I think it's time to attract investors and venture capital to continue the progress, otherwise the status quo remains and it could lead to a collapse," Draper said.

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