This Billionaire Thinks Bitcoin Will Obliterate the Dollar—Here’s Why

by

If you ever find yourself ruminating on the future of money—possibly while sitting on your front porch whittling a stick, or in my case, sipping whiskey and mocking riverboats—you’ll want to hear the tale of one Tim Draper. This fella strolled into a 2014 US Marshals Service auction and snatched up nearly 30,000 magical internet coins (Bitcoin, not Bit-o-Honey) for $19 million. Now, he’s hollering from his soapbox, predicting the world’s going to drop the ol’ almighty dollar like a bad habit and pick up Bitcoin instead—inside of ten years. That’s less time than it takes for Congress to finish a sandwich.

Bitcoin Vs. The US-Dollar (Winner Gets a Participation Trophy)

“Give it about a decade or less, and Bitcoin will have the US dollar chewin’ dust,” Draper told Christine Lee. He spun a yarn about banks and governments losing trust, sending people stampeding, not for physical cash (which, let’s be honest, already smells faintly of disappointment), but for the clickity-click convenience of Bitcoin. “People will move to the Bitcoin standard,” he declared, presumably while trying not to look too smug from atop his mountain of early investments.

You see, Draper has a couple of steadfast beliefs—stronger than a Missouri mule and twice as stubborn. First, Bitcoin’s supply is fixed tighter than a miser’s purse (21 million, period, end of story, don’t ask for change). Second, global commerce keeps on truckin’, permission or no. With about 19.86 million BTC out in the wild, Mr. Draper reckons fiat money is doomed to keep shrinking in value, much like a wool sweater in a hot wash. He compared today’s inflation to the time his own pa described how Confederate foldin’ money became fit only for wallpaper after the war—when the Union stopped playing nice.

Regulation’s joining the rodeo too. The banking overlords now say banks can hold crypto—provided they don’t lose it behind the couch cushions. Draper claims the banking sector is “now a bridge,” though personally, I worry they’ll charge us tolls both ways.

And wouldn’t you know it, the market’s eating it up like it’s fried catfish at a church picnic. Bitcoin’s above $103,500, network value is brushing $2 trillion, and the smart money’s herding into these fancypants spot-ETFs. Draper’s own wild-eyed prediction? Bitcoin’s headed for $250,000 by New Year’s Eve 2025. After that, he basically threw up his hands and said, “In ten years, it’ll be worth infinity versus the dollar, ‘cause there won’t be a dollar left.” (Which is one way to solve inflation, I suppose. 🥲) His logic? Once you can pay your taxes, wages, and grocery bill with Bitcoin, why bother hoarding a stack of crumpled Lincolns?

Now, Tim’s not completely out to lunch. He admits dollar-backed stablecoins might stick around, but only as stepping stones—bridges, if you will—across the roaring rapids of financial doom. But in his tall tale, even governments will become Bitcoin node-keepers and digital tax collectors, which I’m betting sounds better before the coffee kicks in.

Critics point out that the US dollar is about as sticky as Mississippi summer air, thanks to Uncle Sam’s muscle and market depth. Draper, unfazed, channeled Teddy Roosevelt (mustache not included): “The real credit goes to the folks in the arena getting their faces kicked in, not to the sideline cowards.” He says every company should have enough Bitcoin on hand to make payroll if the banks shut up shop—unless they fancy bankruptcy. Households? You better keep six months of living expenses in Bitcoin, or you’re simply not paying attention (or you just enjoy stress, like my Aunt Fanny at Thanksgiving dinner).

At the time I wrote this (or at least before lightning struck the telegraph wire), Bitcoin was trading at $103,747. Huckleberry Finn would probably just fish with it. 😉

Read More

2025-05-14 17:48