Tim Draper wants to make Bitcoin the national currency of Argentina

the Bitcoin luminary Tim Draper calls in a personal Meeting with the Argentine President Mauricio Macri for Bitcoin as a national currency. The million-dollar Investor Draper go with the daring idea to replace the Argentine Fiat currency with crypto, in the political-economic territory.

Polina Khubbeeva
26. March 2019BTC$3.931,77 -1.21%part Facebook Twitter LinkedIn xing mail

Tim Draper, venture Investor and crypto-Visionary, sat down at the 20. March at a Meeting with the President of Argentina, Mauricio Macri, for the abolition of the national currency-Peso (ARS) to Bitcoin (BTC). The Buenos Aires newspaper La Nación, in Argentina, as the leading reports, on 22. March.

Tim Draper: Maximalist, Visionary, and activist

The dazzling Bitcoin Investor Draper made in the past, especially daring and successful cops forecasts a name. In 2014, he bought nearly 30,000 Bitcoin, and thus belongs today to the richest Bitcoin owners. In addition, he was involved at an early stage Bitcoin and Blockchain innovations in the Public.

Draper appealed many times in the past to the policy. So he gave in 2017, the U.S. Securities and Exchange Commission (SEC), advice in dealing with ICOs to prevent the regulatory authority with too many rules stifles the innovation potential of ICOs.

Fiat currencies referred to Draper as a political, ponderous, inefficient, and expensive, which is why his foray in Argentina, not daring indeed, but not surprising.

Argentina is the first Bitcoin Nation?

In the framework of a meeting of the members of the Draper Venture Networks, the of the Fund Draper Cygnus was aligned, traveled Draper now to Argentina.

On Wednesday he met with the President of Macri. Argentina could make its way out of the economic crisis and the emigration of skilled workers to an attractive location for businesses. The key to this is the legalization of Bitcoin, and even the total abolition of the Argentine Peso (ARS) in favor of the cryptocurrency. According to one FinTech and Blockchain summit in the Salon of the Minister of production Draper:

We're talking about the Bitcoin and the devaluation of the Peso said, and because I propose a bet: If the Peso is worth more than the Bitcoin, and I double my investment in the country. The Bitcoin should be worth more than the Peso, then it must be the national currency explained. This would be the perfect solution, because there is no confidence in the (current) currency.

What could be behind Drapers large flap

Argentina is one of the crypto-friendly countries in the world. Both public institutions and the free economy to benefit from the progressive Development of a legal and technical infrastructure in the Blockchain-the area. For Draper, the appointment of Bitcoin as the national currency is the perfect way, so that Argentina can make its unstable economy with innovative legal requirements, a Paradise for Tech Start-ups and investors.

If Argentina Drapers follows a radical proposal in the near future is doubtful. His appeal, however, it can trigger a debate on the usefulness and future viability of Fiat currencies in an economy, which is increasingly concerned with the Blockchain Economy.

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