$BTC

Silicon Valley Venture Capital Father: Bitcoin Will Replace the US Dollar in 10 Years

The billionaire venture capitalist Tim Draper, acclaimed as the 'father of Silicon Valley venture capital', predicts that Bitcoin will replace the US dollar as the standard currency supporting the international economy in ten years.

In an interview with CoinDesk, Draper reiterated that Bitcoin ($BTC) will rise to $250,000 by the end of 2025. Moreover, within approximately 10 years, the Bitcoin to US dollar (BTC/USD) exchange rate will reach 'infinity' because the US dollar will no longer exist.

He also forecasts that as trust in government diminishes and decentralized technology replaces traditional banking systems, there will be a run on fiat currency banks.

When Silicon Valley Bank collapsed in March 2023, Draper revealed that he received calls from 15 portfolio companies, all stating that they could not pay salaries. Therefore, he advised each company's finance department to hold Bitcoin so that they could still pay salaries when banks fail.