American venture capitalist and billionaire Tim Draper argues that bitcoin (btc) Will lead el salvador To become one of the richest countries in the world.
In an interview with investor Anthony Pompliano published Monday, Draper discussed Governments are turning to bitcoin and adopting the ‘Bitcoin economy’, along with the benefits of that move.
“There are only one or two countries in the world that have started doing this. They are […] In the next 40 years some of the poorest countries in the world are going to be known as the richest countries because they did it.”
“It’s all about the freedom and trust” that citizens are given, he said, comparing it with El Salvador. Singapore And South Korea – the once poor country that has rapidly risen through the ranks.
in addition to El Salvador, they named Central African Republic As a country that will see success with BTC as well malta And SwitzerlandWhich he said would be a “huge benefit because they are making bitcoin a part of their economy.”
People, Draper suggested, want freedom and opportunity: these lead to a country’s success, and they can be met through bitcoin.
“It just tells you that you want […] More opportunity, you want more choice as a consumer, but not just for all your consumer goods, you want more choice in what government you want to work with,” he said.
using bitcoin, blockchain, smart contractand decentralized autonomous organizations (dao), Draper said, new governments will arise, which are completely virtual, and “you’ll be able to be a part of them.” And “land-based governments” will also become more efficient.
decentralization is the way to go
Draper said that bitcoin is decentralized and, therefore, leads to a decentralized government, in contrast to centralized governments that completely control people’s lives, often in destructive ways, citing the example Russia, ChinaAnd this America,
specifically for the US, the government and regulator There has been a lot of focus on the crypto sector, especially after the recent decline Terra / Luna ecosystem and ftx Exchange.
However, according to the investor,
“Good leaders are increasing their trust in people and liberating them. And bad leaders are trying to control and regulate things and tax and whatever.”
while he can understand toll taxDraper said that what the US government should understand is that it “wasted a ton of money on 80,000”. IRS agent – where, if they became a bitcoin economy, everyone would automatically pay taxes.”
Taxes would be lower, and there would be no fraud – everything would be on the blockchain.
That said, taxing BTC as property would make no sense, he said; It should be taxed on transactions, and it would “probably pay a lot more than what the government is using it for now – and a lot more efficiently.”
meanwhile, as informed ofIn early November, Draper reiterated his earlier forecast that BTC would reach $250,000, although he changed the timeline: instead of the previous forecast that this would happen in 2022, he said that the price would be reached by mid-2023.
At 11:00 UTC on Friday morning, BTC is changing hands at $17,218. It’s up 2.3% in one day and 1.4% in one week. Meanwhile, it is down 7% in one month and 66% in one year.
You can watch the full interview here:
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learn more:
, Billionaire Tim Draper: Bitcoin To $250,000 By Mid-2023
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