Billionaire venture capitalist Tim Draper is confident that global Bitcoin (BTC) adoption is proceeding extremely well.
In a new interview at Web Summit 2022 in Lisbon, Portugal, Draper says Bitcoin hitting 100 million wallets is an “extraordinary” achievement.
“There are 100 million Bitcoin wallets now, and that’s pretty extraordinary, pretty exciting. And we’re only 15 years in.”
According to Draper, the global adoption of the flagship crypto asset will accelerate over the next half a decade.
“You know, people say, ‘Well, why aren’t there 10 billion [wallets]?’
Well, there aren’t 10 billion wallets because it takes time for new technologies to proliferate throughout the world. Facebook is everywhere but it’s 20 years [since it launched].
So give Bitcoin five more years and you’ll see some great things happening.”
The billionaire venture capitalist also says that Bitcoin’s best use case is serving as a medium of exchange.
“I think the best use for Bitcoin is as a currency. As soon as we can buy our food, clothing and shelter in Bitcoin, then there’s no reason to hold on to any fiat currency.
Because you’d rather have a currency that is completely trusted, completely away from bad governments, away from banks and that is a great opportunity for people.”
Bitcoin is trading at $21,395 at time of writing, a 5.29% increase on the day.
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