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Billionaire Tim Draper says Bitcoin is Safer Than Cash

Venture capitalist billionaire Tim Draper recently came out and said that Bitcoin was safer and far better than fiat money. He emphatically expressed that the Bitcoin blockchain is a safer storage for money than a bank.

In a May 10, 2018 CNBC interview, silicon valley billionaire Tim Draper said some things about Bitcoin that made a few heads turn, which was that Bitcoin was literally safer than a bank to put one's money in. He said the only reason more people aren’t using it is because they feel too secure with their accumulation of fiat dollars.

“There are people who have lots of fiat dollars. There not thinking, hey there is a major revolution taking place that is now allowing for a better currency. One that is more secure, that is decentralized, that is more effective, more useful, it’s global, it’s open to everyone, it banks the unbanked….” Draper said with enthusiasm. “It is a far better currency than fiat currency.”

Draper went on to say that right now banks are being attacked on a constant basis by hackers doing the best they can to get a hold of your fiat money. With cryptocurrency and particularly the blockchain, “No one has ever hacked the Bitcoin blockchain," Draper said. “It is the most secure place to put your money.”

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Jack Taylor is a freelance journalist who has contributed to many award winning media outlets on a wide range of topics regarding trending technologies, cryptocurrency, blockchain & digital privacy.
Tennessee