Billionaire and venture capitalist Tim Draper has unveiled a new view on the future of Bitcoin, comparing the digital currency to tech giant Microsoft.
In a recent interview with Coin Bureau, Draper discussed how Bitcoin could emerge as the dominant platform for innovation, similar to Microsoft’s role in developing software programs.
According to Draper, Bitcoin, which currently trades at around $44,000, has the potential to become the foundation upon which developers in the cryptocurrency industry will launch new technologies, integrating and consolidating various cryptocurrency use cases.
This transformation would be analogous to Microsoft’s development of programs such as Word and Excel, which have become essential in the computing world.
Draper emphasizes that while platforms like Ethereum, Solana and Tezos have been the scene of significant experimentation, there is now a trend of innovative technologies migrating to the Bitcoin ecosystem.
Examples cited include non-fungible tokens (NFTs), decentralized finance solutions (DeFi), and smart contracts, all of which integrate with Bitcoin.
In addition to his vision for Bitcoin’s consolidation as a leading technology platform, Draper also made a bold prediction about the cryptocurrency’s price.
He believes Bitcoin will reach the $250,000 level sometime in 2024, an increase of about 470% from its current value.
After reaching this point, Draper predicts that Bitcoin’s price will continue to grow, although he did not specify a cap on this increase.
“What happened [com a Microsoft] was that it was a platform and they let people do all kinds of things, and then chose the things that really mattered. So I see the same thing happening with Bitcoin as a platform.
Sure, there’s been a lot of experimentation with Ethereum and Solana and Tezos and everything else, but now people are saying, ‘Okay, so NFTs (non-fungible tokens) are a big deal, so let’s do ordinal numbers on Bitcoin. Okay, so DeFi (decentralized finance) is a big deal, [então] we will have DeFi on Bitcoin. Okay, smart contracts are a big deal, [então] let’s migrate smart contracts to Bitcoin.”
This optimistic view from Draper reflects the belief in Bitcoin’s ability to not only maintain its position as the leading asset by market capitalization, but also significantly expand its influence and usefulness in the world of cryptocurrencies and technology in general.
Source: Live Coins

Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.