Tim Draper, a VC known for his permanent bullish position in Bitcoin [BTC], recently appeared in an interview to explain why Bitcoin could not break the $ 6,500 mark. It should be noted that the price of Bitcoin has not changed much in recent weeks.
When asked why the good news in the cryptocurrency market had not raised the price above resistance, Draper said it was a “transformation”. That would take place in the next 4 or 5 years. He told CNBC CryptoTrader:
“There’s no reason for us to use political money again because we can use the cryptocurrency, it’s much better, it’s decentralized, it’s soft, it’s just better, I think Bakkt can really give some help.”
Bakkt is a futures contract settled in cash offered by InterContinental Exchange, the parent company of the New York Stock Exchange. It will launch on December 12 and is generally considered a milestone for Bitcoin.
Asked about the decentralization of Bitcoin properties and their introduction by centralized structures such as ICE and other known hedge funds, Draper described the currency as “free, open and honest” and reiterated that it was not linked to a political force. He explained:
“These are bridges to a world where we know you, where we almost see the limits dissolve, the world opens up, we have a vision of the future, it’s a very big vision, the world will be very different in the future.”
Draper compared governments with companies that compete for clients in the cryptocurrency space, illustrating the analogy with events such as China, which prohibits cryptocurrency, and Japan, which has a practical approach to space regulation.
“Governments are like companies that compete with us, I think we’re going to separate, and I think we’re getting rid of tribal instincts, and now we realize we’re not against them anymore.”
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