American venture capital investor Tim Draper has advised Mauricio Macri, the current president of Argentina to legalize Bitcoin to improve the economic situation in the country. On March 20, Draper met with Argentina’s president to discuss the economic prospects of the Latin American country.
During the meeting, crypto bull told about the potential of blockchain and crypto for solving major economic challenges in the country, including the devaluation of the Argentine peso (ARS), as well as the associated brain drain.
Draper believes Bitcoin and blockchain are much greater revolution than the internet. He said that it is now a good time for adoption blockchain and crypto in Argentina, arguing that this will provide complete changes in banking, commerce, and financial systems.
“As soon as people are able to easily use bitcoin, just like pesos or dollars, they will choose bitcoin because it is decentralized and open, frictionless and global,” Tim Draper said.
Draper has also predicted that Bitcoin will be worth $250,000 between 2022 and 2023, and will account for 5 percent of the global share of all the markets.