Tim Draper, the renowned venture thinks that seeing the government all around the world failing to do with the financial crisis caused by corona and just printing money to cushion the blow, would end up making people jump to bitcoin, once normalcy is restored. He is of the view that from now on geographical distance won’t be a hindrance and make much sense to people, so this would aid the adoption of bitcoin.
Tim Draper Received Backlash
The billionaire investor faced the wrath of people online when he tweeted that the shutting down of economy would cause more death than the deadly coronavirus. His views, which were supposed by Bitcoin Jesus Roger Ver, was not received well by the community which were more concerned regarding the humanitarian loss engulfing their country.
In the new interview, Draper seems to stand by his comments stating that governments could be overreacting with their draconian measures. Currently, almost four billion people are being asked to stay at home and follow the lockdown imposed by their government.
Tim Draper emphasizes on the fact that these same governments who used to basically “tank” the world economy and using monetary stimulus top-ups to rescue it. He is hinted towards the US economy which is using unlimited quantitative easing as probably the last resort to save the woeful condition of the US economy right now. He further added that :
“And then they are gonna be printing all this money to try to get the economy back after they’ve basically tanked it. And now, trying to get it back, they are going to flood it with a bunch of money, and that money is going to be worthless, and less, and less.”
Draper believes that this would waver the faith of the people in the government and the US dollar, and they might be looking for something more resolute and robust, and according to the venture capitalist, that is bitcoin. Tim Draper has stuck to these claims for a long time and suggested a while ago that it is bitcoin which will save the day and not governments.
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