Tim Draper Reveals When It’s Too Late to Buy Bitcoin

And we're in 2024 maybe by the end of This year if I had to predict 250 by the End of this year maybe I mean that it's Looking pretty good yeah yeah it's it's Definitely ramping up and I mean we've Just seen how much the inflows to the ETFs have been like unbelievable you Know Yan fck was telling me his his dad Kind of you know P by the way it's $250,000 per Bitcoin it's a for the Inut I got it right exactly right when One time and then they keep asking me Again and that my prediction of 250,000 In four years was did not happen the 10,000 in three years in 2014 on Fox Business she asked me what's going to Happen to bitcoin and I said and at that Time it was $180 I said it's going to be $10,000 in three years I I'm still Predicting Bitcoin $10,000 per Bitcoin In 3 years and almost three years to the Day it hit $10,000 and so then I thought Then I got cuit and I said oh I can Predict anything yeah yeah and uh no it Turns out that was a One-Shot deal when It dropped to 4,000 I said okay it'll Hit 250,000 in four years that was by 2022 we're now in 2024 clearly I was a Little bit optimistic there and I here's What I had Not expect I did not expect all the Resistance From bureaucrats in a free

Country I expected a free country to be A free country and allow the markets to Decide what would happen out there but The bureaucrats really fought back um I Think Now the great leaders are the ones that Trust people and set them free and the Weak leaders are the ones who try to Control everybody with their fiat Currency or Whatever the the good leaders are coming Back the strong leaders are coming back And saying hey this is going to be Really good for our country this going To be really good for the global econ It's going to look better thing so um I Think we're getting to the point where That opens up so that was those were two Things I had projected out and thought Were already going to happen they are Just starting to happen now just your Thoughts on the Haring and this cycle Obviously like you said your your Previous predictions weren't quite Bright in the last four years have been A very difficult uh time this Haring uh This macro environment um yeah it kind Of feels like Bitcoin summmer and it Hasn't been like that for eight years I Think you know if you're an investor in The stock market they say don't bet Against the FED yep if if you're a Bitcoin buyer don't bet against the Having y that thing that changes

Everything the supply shrinks the demand Increases it's the price goes up that's Natural economic supply and demand we're Also getting to the point where it opens Up at retail um 85% of retail is Controlled by women only one out of About six Bitcoin wallets is held by a Woman when retailers realize that they Can save 2% on every Transaction if they accept Bitcoin then And when they start saying I only accept Bitcoin then the women will all have Bitcoin wallets and they will continue To control 80% of retail spending but it Will also be in Bitcoin it it depends on What you mean by a bull cycle Because when there is a run on the Dollar that's going to be a huge bull Cycle into all the other into the other Ass into cryptocurrencies like pin they Are going to run and that will create a Huge full cycle it will be A more cataclysmic I see I think there Is I mean every time there's a having Which used to be called a haveing yeah Every time there's a having the next Time I'll be calling it The Hing and Then it'll be just like the H but um We're going to have a a a reduction in Supply and when you have reduction in Supply there will be more demand there Will be a higher price that in general Will keep happen but um but I think the

Real you know the the point at which it All ends up stabilizing is when we no Longer are using any Fiat currencies no Government currencies no political Currencies no currencies that any One you know authority figure can Manipulate um just lastly as an investor You know uh it's never too late to to Invest in Bitcoin um you know for for Someone that's just getting into the Space and is looking for some sort of Exposure I mean you know the advice Varies like 1% of your portfolio 10% of Your portfolio what do you think is a Good exposure in in this current climate I mean most people cannot just throw Away or or spend away all their fat Right you know you still have to live in That the economy in which we live in but What do you think is a is a safe well I Think I everybody has to make their own Decision but I was um with a bunch of my Friends and Bitcoin was I Think 7,000 And um and I said to Them actually it may have been 700 um and I said to them look just put 2% of your net worth into this Thing something's going to happen here It's going to be worth it may be worth Nothing but it may be like Transformative to the global economy so You may want to have some and um none of Them took me up on my suggestion

And I would expect the exact same thing To happen to anybody that you're that You're viewing audience that they if They haven't bought Bitcoin by now are They going to are they ever going to or Are they going to just be a part of the People who are flawing at the bank to Try to get their dollars out and try to Get Bitcoin for it I think if you if you Haven't bought some Bitcoin by now Um I mean I think you should yeah yeah Because I the future I see is one where If you don't have some to take care of Yourself when the dollars become Worthless there's going to be a hole in Your in your life yeah you know I tell Um my companies my startup companies you Now need a treasur After Silicon Valley Bank went under you now need a treasury Strategy and they say well what should It be and I say well put some of it in a Big bag with some of it in a small bank And some into Bitcoin and first they say Wait why a small bank I say well because The government will bail out a small Bank but if a big big Bank goes under You're in big Trouble and then they say well why Bitcoin and I say because you're Responsible for at least two weeks maybe Four weeks of payroll and if any of your Banks go Under or all of your Banks go under You're not can have money to pay those

People and you are going to be Personally responsible for that money so You better have something else and Bitcoin's a perfect solution to the Reality is is quite crazy actually if You if you think about it um yeah I mean As you mentioned just as a part in CLA You know the next next 5 years it's Never too late to to buy a Bitcoin and You look at the proponents out there Forget about the price it's about too Late to buy Bitcoin when there's a run On the dollar yes I mean people don't Understand what that was like unless They were a part of Silicon Valley back When it was collapsing in that that Thursday to Sunday they got a little bit of a window Of what happens when there's a run on a Bank when people are saying I get my Money out I need my money out and guys Like I mean Circle you know usdc was Directly impacted by that and I I don't Think they foresaw it you know so I mean If a if a stable coin issuers is having The same problem with a Traditional Bank Like it's a bit of an eye opener um just And I've always thought stable coins Were a bridge to bitcoin I've never Thought of them as like a permanent part Of our economy because they are tied to Fiat they're tied to political Currencies yes now if they're tied to Bitcoin and and other altcoins that a

Little different and I've seen some of Those but if it's a stable coin tied to Something that were just able with now They're going down at the same time as The dollar goes down do you do you see That happening in the future though um You know like uh the dollar failing in The next 10 20 years I mean what is the Reality of that it might be I think when I can buy food clothing shelter and pay My taxes all on bitcoin I don't need any More dollars and I will get rid of all Of them and I think that will be true of Everyone and they they're just it's just Starting to Dawn on people and it's just Starting to Dawn on the retailers that They should be accepting Bitcoin and Eventually only accept bitor but there Will be a moment in time and I don't Know whether it's a day or a month or Maybe over the course of two months or Something but and I don't know when it Will start whether it'll be a year or Five years or whatever maybe even 10 Years out But it'll happen very Rapidly um people people learn things Very quickly now with you guys with Social media with whatever they learn Things very quickly if something is Troublesome if the dollar is not worth Anything they are going to be running to The bank almost Immediately and taking that money out

Trying to turn it into Bitcoin as if you Can get the money out yeah which you Mightn't be able to yeah but I think It's going to be like Confederate Dollars where when the Confederacy lost To the union everybody was only the only Thing that anybody valued were Union Dollars and so people were printing Million dooll you know Confederate Dollars and trying to you know here take This take this uh but but there's a Moment where Confederate dollars are Completely worthless and I think the Same thing could be happening in the Next I mean What seven Years sometime in the next seven years I Think that we will have that cataclysmic Event and I hope anybody who's watching This is going to at least have some Bitcoin so that they can feed their Family during the time when the dollar Goes to Zero we we heard it from Tim Dr but Hopefully yeah hopefully that doesn't Come to parition but if you can Save yourself now right it will because I think it's going to be better for the World to be operating in a trusted Currency in a trusted system system not Tied to political Forces um so I actually think that it it Will be a really good thing the Transition though I'm just hoping

Everyone owns some Bitcoin before that Transition [Music] Happ [Music] N