- Tim Draper, an investor said that he thinks the 2 trillion will not hit the economy in time in an interview with Bitpush.
- Tim draper said that he suspected that the market would face another hit before it fully recovers.
- Bitcoin is the safe haven holding at times when country is printing huge numbers of dollar slips.
The U.S. hit with Coronavirus pandemic 100,000 confirmed cases and 1534 deaths occurred as of Friday.
While there is a lot of chaos on the Presisent Trump having signed 2 trillion stimulus package that is feared to devalue the U.S dollar, Tim Draper, an investor said that he thinks the 2 trillion will not hit the economy in time in an interview with Bitpush.
When asked if the U. S stock market will recover as soon as the pandemic is over, Tim draper said that he suspected that the market would face another hit before it fully recovers.
An attention drawing answer about the Bitcoin bouncing back faster than the stock market was about his bitcoin prediction. He said that by 2020 or 2023 he predicts that the Bitcoin will hit $250k per Bitcoin.
Bitcoin a Safe Haven
Bitcoin is the safe haven holding at times when country is printing huge numbers of dollar slips he said when asked if bitcoin halving in may would drive crypto currency to a bull market.
Bitcoin is more preferable than the U. S stocks he said when asked if it was now the perfect time for investor to buy bitcoin or U. S stock.
His final answer about what impact the pandemic has on crypto industry, He said that pandemics are events that wake people, who think that there is no need to change anything when everything is going good. He said that at times like these people want to prefer cheaper and faster solutions than what previously existed. At high alarming times like these.
Tim really wishes people look forward to newer technologies including bitcoin and blockchain that have their roles to play in various sectors such as banking, health care and much more.
He concluded saying that he thinks people will soon realise the efficency systems like Zoom and Skyoe offer and also will start to use bitcoin as soon as they realise that their currency is being devalued by the government. People have come in terms of realisation about how bitcoin is more valuable and honest than the dollar.
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