Tim Draper has come out and made some outlandish statements in regards to Bitcoin today we’re gonna look at everything he said and we’re kind of dissecting and whatnot and there’s only one thing out of all the outlandish things he said about Bitcoin there’s only one thing I have an issue with okay only one thing he said that I’m like why would you say that only one thing okay but let’s look at everything he said here okay not only does venture capitalist Tim Draper think bitcoin is here to stay he says that it could be bigger than the internet now that’s a huge statement is that the one I have an issue with I actually don’t have an issue with that we can debate that I don’t I don’t feel like that’s true but I don’t have an issue with that he wants to stick up for you know Bitcoin and say it’s gonna be bigger than the Internet that’s his decision okay when asked during a debate how the digital currency compared to his early investments in Tesla hotmail in Skype Draper said big coin will be bigger than all those combined bigger than all those combined Tesla hotmail Skype bigger than all those okay that is a huge statement guys that is a massive massive statement do I have an issue with that no we could debate it okay I don’t feel like that’s necessarily true I don’t have an issue with him saying that like stick up for your thing okay he says this is bigger than the internet it’s bigger than the Iron Age the Renaissance is bigger than the Industrial Revolution Draper said an intelligent squared us debate presented in partnership with the Manhattan Institute Adam Smith Society on Saturday this affects the entire world and it’s going to be affected in a faster or more prevalent way than you ever imagined he said okay holy smokes Draper founder of leading venture capital firms Draper associates and dfj reiterated his bullish call for Bitcoin to hit two hundred and fifty thousand dollars okay one Bitcoin $250,000 for reference Bitcoin right now I think is around eighty seven hundred dollars or so within four years and elaborate on use cases so he’s not only saying Bitcoin is going to go to two hundred and fifty thousand dollars which is a huge statement in itself he’s saying it’s gonna happen within four years guys by 2022 he’s saying okay in five years you’re going to try and buy a cup of coffee with fiat currency and they’re going to laugh at you that buttery Starbucks good like ha ha you’re buying coffee with fiat currency you freaking in your County or man I’m not giving you a caramel latte and they’re gonna laugh at you because you’re not using crypto oh my goodness I believe that there will be a point at which you will no longer really want to use any fiat currency that’s a huge statement okay that’s a huge statement I don’t even have an issue with that statement he made okay once again I don’t believe that’s gonna be true we can debate that out my parents don’t even use debit cards they still use cash for almost everything look at how much cash is still used debit cards and credit cards have been around for a long long time look at how many people still use cash okay so we need to bake that that’s still not the thing I have an issue with okay draper bought nearly 30,000 bitcoins in 2014 US Marshal Service auction and told CNBC in December that he was still holding all those coins if that is the case Draper’s holdings are worth around 268 million dollars as of Monday’s pricing okay and lastly here while there are more than 1,500 crypto currencies in existence of corn no coin market Capcom Draper said Bitcoin has enormous lead and will likely win the long term crypto battle because of its mark this year so very interesting stuff now first off here Bitcoin right now has a market cap of somewhere around 150 billion dollars okay it has a price around eighty seven hundred dollars so you know that’s what about bitcoins price on a dollar basis would need to go up about twenty eight times more valuable than it is now meaning the market cap would need to go up also 28 times meaning the market cap would need to go to over four trillion dollars within the next four years for his a bullish thesis to play out and bitcoins at 250,000 so he said I’m ton of things in there okay you know and we could debate all you know so much of it we had to bake this and that and that would be a really fun debate but the issue I have with what he said was the $250,000 Bitcoin gonna go to $250,000 within four years okay whenever someone goes out there and just you know says a particular price of an asset is gonna go to this price and you know it’s an outlandish price like that it almost makes them like lose some credibility like 250 like you realize how many investors need a pile insane amounts of money into this this asset right over the next year for years that’s ridiculous okay you will never ever hear a CEO of a company write you know say oh where are our stocks gonna go to such and such price within four years you’ll never hear you know Elon must say oh Tesla stocks gonna go to you know four thousand dollars a share over the next seven in the years you never hear Jeff Bezos say oh our stocks have thousand dollars right now but it’s actually gonna go to ten thousand within four years you’ll never ever hear that but yet in the Bitcoin space you know you got all these people you know some of these bigger investors that make these outlandish calls on Bitcoin pricing and a lot of it has started honestly within the last six to nine months especially when Bitcoin was kind of you know just going crazy where’s all over the news mainstream media attention or whatnot then all of sudden these big guys that have been invested in started making in a lot of smaller guys to start making these outlandish prints calls okay that is just like what is gonna go that price you know just like insane prices right that’s naughty like like that’s like you can you and debate so much stuff but to say the price is gonna go to a certain price by a certain date and that that price is 28 times higher than what it is now and it’s a four year span it’s like dude you’re losing credibility like you could debate all this stuff and we could debate it okay you know he’s saying bitcoins gonna be bigger than the entire Internet think about all everything that’s in the internet he’s saying bitcoins bigger than that that’s that’s like ridiculous but we can debate that okay I don’t have a problem with that but it’s to say an assets gonna go to a certain price within a certain day and that price is ridiculously higher and it doesn’t matter what price it’s at you know if he said it was going to times higher I still be like that’s pretty ignorant to say never mind 28 times higher it’s just not the way should be okay you know yeah and here’s my thing you’ve got no like CEO leading Bitcoin right you’ve got no executive team leading Bitcoin bitcoin is just his own thing over there no-one’s like leading it okay so these big investors they’re kind of like the face of Bitcoin when you kind of look at things right some of these big investors a Bitcoin you know the Winklevoss twins you know Tim Draper some of these guys that have hundreds of millions you know you know of course potentially we don’t know for sure but potentially invested in Bitcoin right these guys are like to face a Bitcoin so they need to act like the face of Bitcoin okay if you are the face of Bitcoin you don’t come out and say oh are our assets going to two hundred fifty thousand dollars within the next four years where our assets gonna increase twenty eight times okay it’s one thing to go from you know nothing to a hundred and fifty billion dollar market cap it’s another thing to go from a hundred and fifty billion dollars to a for something trillion dollars you don’t make that type of prediction okay you don’t you don’t put that out there when you’re the face of it okay these guys are the face of it whether they want to be or not these guys are the face of Bitcoin these big investors okay so everything out of their mouth it’s either gonna be are they trying to have an intelligent debate or are they trying to just hype pipe pipe pipe pipe and get people or invest in it push the price up they even sell out because once again we don’t know if they’re selling there’s no like statements we can’t see if they actually sold or bought or how much they owned or anything like that like it if Bitcoin goes back to 20,000 is this guy gonna sell out we literally don’t know we did we have no clue okay we can’t see it it’s like you know if if a company right in a CEO sell stock in a company right if a CEO starts selling stock we can see that there’s SEC documents that he has to file okay or he can literally go to jail or she can literally go to jail for that these guys we don’t know like they could sell out you know if Bitcoin goes to 10,000 you know it’s next week or next month or whatever and we’ll have no clue okay so when you start making price predictions that’s when it starts to get into you’re just trying to hide pipe pipe okay you would have all these other kind of debates here and there but when you’re saying the price is going to this by this date you’re going into full height mode at that point in time you’re going into full height mode okay it’s like you know someone in the stock market is saying oh the stock market you know the was at 24,000 right now the dolls going to a hundred thousand you know four years from now or whatever it’s like dude you’re just trying to hype at that point in time you can make an argument why you think the market is gonna go up over time but you just say oh it’s going to this price by this date that’s ignorant man that’s ignorant that’s that yeah that just sounds like you’re trying to hype at that point in time so that’s my feeling on it let me know what your guys opinion is on this do you think he should be making outlandish calls like that do you think this helps Bitcoin I do you think this hurts Bitcoin you know do you think this ceases we’ll take the thing we need hike we need hike we need hysteria you know we need that out there or do you think it’s the type of thing that’s actually hurting Bitcoin and actually bringing it down and not just Bitcoin but all cryptocurrencies in general also do you think bitcoin deserves to have as much attention like I feel like aetherium should have the majority of attention like by far over Bitcoin but aetherium seems to get hardly any attention compared to Bitcoin like anyways just let me know what your guys opinion is down there in that comment section as always thank you for watching and have a great day you

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