Tim Draper Wants BTC As Argentina’s National Currency

Tim Draper is an American venture Capital investors and is the founder of the firm that would become Draper Fisher Jurvetson. He is a pretty big name in the crypto and he recently spent some of his time in Argentina where the billionaire investor and Bitcoin advocate personally met with President Mauricio Macri. Draper came up with a bold idea to the Head of State… make Bitcoin the national currency of Argentina.

Yes, you read that right. Draper put forward the idea that the Argentinian peso should be replaced with the leading cryptocurrency. According to reports, “I suggested that he make Bitcoin a national currency and to bring in 5G and let the market figure it out and build all the roads and everything else for him.”

Draper believes that with this, an influx of new startups will come flooding into the nation if they become a crypto friendly saying, “that could end up being just phenomenal and globally, people will start saying I’m going to Argentina to start my business.”

With the movement of blockchain making ground as will the demand for decentralisation. The venture capitalist is aware that the building of the blockchain infrastructure along with killer apps are the key to money flowing into the crypto space.

“It seems simple to me because all you’re doing is you’re flowing with the decentralization movement. And that movement turns out to be really important and all the geographic borders are gonna fall and we’re gonna be one big world.”

In the past, Draper has come up with some bold claims and ideas so this isn’t exactly unlike him but many would see the adoption of Bitcoin as a national currency as just something that isn’t possible.

Nevertheless, the idea of crypto friendly rules and regulations is a great idea and with the recognition that Bitcoin would receive as real money could potentially go a long way for the country’s economic conditions. Every day, new startups come out with fresh ideas to help the projects of tomorrow and government clarity can only speed up that process up.

Fostering development is the most important thing for the whole blockchain space. When great and useful applications are delivered, the space and all its tokens have got real-world value. The countries catch on earlier will end up housing some spectacular crypto startups.