Big investors like Tim Draper conducted an interview with Fox News on Wednesday and said that the Millennial generation must invest in Bitcoin.
Draper believes that millennials who invest in Bitcoin will be financially stable during their retirement. Draper also explored the conventional banking system by calling them ‘oldsmobile’ while Bitcoin ‘is not oldsmobile’. He also said the system (oldsmobile) was able to bring millennial into a considerable amount of debt.
Draper considers Bitcoin as a decentralized investment option. Which means that millennials don’t have to pay fees to the government for investments they make or for rough activities such as using digital payment methods.
He also stressed the fact that the way to raise money in the past is not the same as what is done in the present. He said that saving money, penny after penny would not work. The future will be ‘global’ not ‘tribal’.
Draper believes that the best way to get involved in the global economy is to ensure “free capital movements”. Because Bitcoin is not centralized, its use in transactions is not tied to one entity.
In addition, Bitcoin also has limited stock, and according to economic law the value of Bitcoin can continue to increase like gold.