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Bitcoin and Crytocurrency Predicted to Hit $80 Trillion

Tim Draper, the US billionaire venture capitol investor who founded Draper Fisher Jurvetson (DFJ) and also famously invested in companies like Skype and Tesla Inc, has anticipated that both bitcoin and cryptocurrency will see a significant increase at an astounding $80 trillion over the next 15 years.

“The internet started in the same way, it came in big waves and then it kind of came crashing down, and then the next wave comes concentrated but much bigger, and I suspect the same thing will go on here (with bitcoin)”, he told Deal Street Asia.

Draper also addressed the current declining state of bitcoin and other cryptocurrencies that has dropped significantly, given their record-high value at almost $300 billion previously achieved in 2017. It has since become questionable whether the cryptocurrency is considered a legitimate financial asset.

He added that bitcoin and cryptocurrency will have an unimaginable transformative effect on industries. “The internet went after industries that were $10-100 billion dollar markets, cryptocurrency will go after trillion dollar markets – these are finance, healthcare and insurance, banking and investment banking and governments.”