Tim Draper
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Bitcoin might be worth an infinite amount of USD.
During the Civil War, the south’s Confederate Dollar went through hyperinflation.
After starting 1:1 with USD, it ended the war at over 10 million to 1.
People lost faith and scrambled to trade their cash in for USD.
But now the US Dollar Index is having its worst start to the year in its 40 year history.
And if geopolitical tensions escalate to extreme levels, faith in the dollar may fall much farther.
Bitcoin, on the other hand, will continue to have open and transparent record-keeping and be easy to store.
And forget gold.
Gold doesn’t play in the same league as Bitcoin. It has real challenges around storage and transportation.
You can’t pay with gold at Starbucks.
Governments are already hedging against this future by holding Bitcoin in their strategic reserves.
So if the system breaks down you don’t want to be the one clamoring to withdraw cash from the bank or hoarding gold in your room.
You want to have enough Bitcoin to hold you and your family over for six months to a year.
Or, if hyperinflation happens, that Bitcoin might last a lot longer.
During the Civil War, the south’s Confederate Dollar went through hyperinflation.
After starting 1:1 with USD, it ended the war at over 10 million to 1.
People lost faith and scrambled to trade their cash in for USD.
But now the US Dollar Index is having its worst start to the year in its 40 year history.
And if geopolitical tensions escalate to extreme levels, faith in the dollar may fall much farther.
Bitcoin, on the other hand, will continue to have open and transparent record-keeping and be easy to store.
And forget gold.
Gold doesn’t play in the same league as Bitcoin. It has real challenges around storage and transportation.
You can’t pay with gold at Starbucks.
Governments are already hedging against this future by holding Bitcoin in their strategic reserves.
So if the system breaks down you don’t want to be the one clamoring to withdraw cash from the bank or hoarding gold in your room.
You want to have enough Bitcoin to hold you and your family over for six months to a year.
Or, if hyperinflation happens, that Bitcoin might last a lot longer.
Gold is dead.
It just sits there. Bitcoin moves.
Borderless. Permissionless. Programmable.
You can’t buy coffee with gold.
But with Bitcoin, you can — without banks, inflation, or friction.
It just sits there. Bitcoin moves.
Borderless. Permissionless. Programmable.
You can’t buy coffee with gold.
But with Bitcoin, you can — without banks, inflation, or friction.
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