Home Bitcoin Anti bank Tim Draper calls for more Bitcoin investment

Anti bank Tim Draper calls for more Bitcoin investment

Heavily indebted millennials may see Tim Draper bitcoin endorsement as a light at the end of a long financial tunnel. His encouragement for them to start investing in a currency that would allow them to build their empire and not take away their money bears serious attention.

He made this stand known on Wednesday in an interview with FOX Business. Backing his claim reportedly, the largest cryptocurrency by market capitalization has a total value of $157.5 billion. Draper believes it’s the key for millennials who want to make sure they have enough money for retirement.

Draper was one of the beginners investing very early in cryptocurrencies. He explained that Bitcoin would be the future of wealth, and the most significant beneficiaries will be millennials who invest at the height of their careers.

He also happens to be against banks and the system, accused the banks of plunging millennials in hundreds of billions in debts while the stakeholders reap the benefits to the detriment of the millennials.

Draper said, “Things aren’t quite working for millennials. They owe a lot, and with the current salaries, they can’t pay it off. It’s a challenging moment for them, and they’ve become renters rather than buyers because they have to.”

Tim Draper bitcoin endorsement, leaving the bank for digital assets

Reiterating that Bitcoin is an alternative to banks, Draper preaches that Bitcoin would save investors from the shackles of banks. Draper encouraged young people to begin investing in what would help them amass their wealth and not steal their money.

“Start building your empire in the new model that doesn’t require that you pay 2.5 to 4% every time you swap your credit card to some bank or another that does not require all the heavy regulations we have that are all tied to the dollar. Draper said.

Draper’s continuous worry about banks

The venture capitalists explain that with his bank account running into billions, he is afraid of his money and would convert all to Bitcoin.

“My money is at risk in banks. They’re hacked all the time,” Draper tells FOX Business. “Bitcoin is probably the most secure of currencies right now, he said.

Draper founded Draper Associates and invested early enough in startups like Skype, Tesla, Hotmail, where he made his fortunes. He continues to preach that blockchain and cryptos are going to surpass anything that the world had ever seen before and caused “the biggest change in the history of the world.”

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Bitgo Plans to Launch Wrapped Bitcoin on the Tron Blockchain

Members of the crypto ecosystem will soon be able to leverage WBTC via the Tron (TRX) network. Just like the tokenized BTC created using Ethereum’s ERC20...

Ethereum’s Long Term Chart Is Extremely Simple To Read

The weekly Ethereum chart, as opposed to the daily chart, is simple and concise. There are 2 simple...

US Department of Transportation Says Blockchain Has Many Applications For Unmanned Aircraft Systems (Drones)

Blockchain technology could assist with adjusting and improving current technical challenges in the expanding business of commercial drone delivery, said the US...

Security tokens, blockchain settlement draw interest from institutions: MIT Bitcoin Expo panel

Amid growing competition between providers, institutions in the traditional finance space are looking at blockchain as another way to offer value to...

Networking 2.0 at Blockchain Life 2020

Make hundreds of connections at Blockchain Life 2020 The 5th Blockchain Life 2020 returns to Moscow on April 22-23 at the unique media...