American investor Tim Draper believes the value of bitcoin will heavily increase in the next three years. According to the millionaire investor bitcoin will reach the value of $250.000 within the next three years. He predicted in an interview with Fox Business that bitcoin will have a five percent market share on the world market by 2022.
Draper has been very bullish on bitcoin in the past as well. For example, he invested $1.25 million in Opennode, a company that provides a payment service that blends fiat and crypto into one system. He also urged the Argentinian president to legalize crypto in order to stop the devaluation of the Argentinian peso. Like many others Draper believes crypto and blockchain technology will bring a bigger revolution than the internet did.
Whether Argentina will embrace bitcoin as a currency, remains to be seen. However, the country has a positive attitude towards crypto. It already accepted payments from Paraguay in bitcoin, when they were trading pesticides. In March the country launched a blockchain-project which is supported by Binance Labs and the Latin American crypto exchange LatamEx.
Draper is not alone in his belief that bitcoin and crypto can disrupt financial payment systems around the world. Research firm Moffer-Nathanson stated that bitcoin can potentially be disruptive to payment services like Paypal and Visa. All around the world there are major corporations accepting payments in crypto or incorporating blockchain-powered services.
Despite the bearish 12 months on the valuation of bitcoin and other coins and tokens, the development of blockchain technology continued. Now there are phones using the blockchain to make calls, there are games being build on blockchain, there’s ID-verification within blockchain-powered services, and the list goes on.
It’s not without reason that companies like Starbucks, Microsoft, Google, HTC, Unity, Samsung, Shell and major banks, are looking into blockchain technology, developing blockchain technology or already using blockchain technology.
Also published on Medium.