{"id":12395,"date":"2022-05-21T08:40:28","date_gmt":"2022-05-21T08:40:28","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/tim-draper-bullish-on-bitcoin-due-to-its-inflation-hedge-traits-bitcoin-news\/"},"modified":"2022-05-21T08:40:28","modified_gmt":"2022-05-21T08:40:28","slug":"tim-draper-bullish-on-bitcoin-due-to-its-inflation-hedge-traits-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/tim-draper-bullish-on-bitcoin-due-to-its-inflation-hedge-traits-bitcoin-news\/","title":{"rendered":"Tim Draper Bullish on Bitcoin Due to Its Inflation Hedge Traits \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Tim Draper, an early bitcoin investor, has declared he is still optimistic about the value of the first cryptocurrency even with the downturn its price has taken in the last months. Draper believes that the asset is still valuable as an inflation hedge, and that the market we are navigating right now is \u201cvery similar\u201d to the dot-com bubble burst, but with higher inflation.<\/strong><\/p>\n

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Tim Draper Still Bullish on Bitcoin<\/h2>\n

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Tim Draper, the venture capitalist famous for his early investments in bitcoin, has explained his stance when it comes to the value of bitcoin in the current market situation. In an interview broadcast by CNBC, Draper explained that the importance of bitcoin in the downturn that crypto and traditional markets are experiencing, has to do with its inflation hedge traits.<\/p>\n

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Draper told<\/a> CNBC:<\/p>\n

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I\u2019m still a bull on Bitcoin because it\u2019s a great hedge against inflation, and as speculators leave it will diverge from tech stocks. I do believe that tech stocks will keep going down as long as interest rates keep going up.<\/p>\n

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He extended his vision of bitcoin as an inflation hedge asset, stating that this trait of the currency can be appreciated only in the long term, and noted it also provides a safe haven against bad governance and too much regulation.<\/p>\n


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Bitcoin Advantages and Overregulation<\/h2>\n

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Draper \u2014 who invested in bitcoin first via an auction of almost $30K in bitcoin organized by the U.S. Marshals Service back in 2014 \u2014 believes<\/a> that bitcoin has a place in the future as an alternative finance system separated from the fiat world.<\/p>\n

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About this, Draper declared:<\/p>\n

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I am free to move bitcoin around the world and I have the trust of hundreds of thousands of miners watching over the blockchain. There will be a moment there where I can buy my food, my clothing and my shelter in bitcoin, and there will be no need for a fiat currency controlled by governments and banks.<\/p>\n

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The venture capitalist also believes that, even with all the problems that the bitcoin investments<\/a> in El Salvador are causing, it has spurred a wave of innovation that is making companies in the sector move to El Salvador due to a crypto-friendly policy and regulations. He concluded:<\/p>\n

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The innovators are all going there because our government is overregulating and so we\u2019re losing innovation because we have too much regulation.<\/p>\n

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What do you think about Tim Draper\u2019s remarks on bitcoin? Tell us in the comments section below.<\/strong><\/em><\/p>\n

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\nSergio Goschenko <\/h6>\n

\nSergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.<\/p>\n<\/div>\n<\/div>\n

Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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