Only Cryptocurrencies Will Be Used For Payments in 5 Years

To some people, cryptocurrencies are the stories they go through while sipping a hot cup of coffee early in the morning. But to others, it is an ecosystem that is developing slowly and is bound to engulf the entire world. One such individual is venture capital investor, founder of Draper Associates and Stanford graduate Tim Draper. Draper is not your average bull – he can break the internet by simply stating that, “In five years you’re going to walk in and try to pay fiat [a government-backed currency like the U.S. dollar] for a Starbucks coffee, and the barista is going to laugh at you, because they’re going to say, ‘What is this? Are you counting out pennies? Give me shells?” To show his unwavering support, Draper wore a tie with printed bitcoins while he continued his interview on CNBC’s segment ‘Fast Money’ on Tuesday. He talked about how digital currency “is not subject to the whims of some political force or another”, and how the world “international” will be substituted by “global”.


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