'There Will Be Run on Banks': Bitcoin Bull Draper Predicts 'Seismic Shift'

Billionaire venture capitalist Tim Draper has stated that the rising adoption of Bitcoin, the cryptocurrency, could one day cause bank runs and erode confidence in traditional fiat currencies. In a recent X post, the longstanding Bitcoin bull stressed how crucial it is to have the leading cryptocurrency as the world's financial system undergoes what he believes is a significant shift. "I've said it before, and I'll say it again. It's irresponsible to not own bitcoin," Draper said. The billionaire predicted that companies will start adopting Bitcoin payments in addition to traditional currencies before completely moving away from fiat. "First they'll be like 'We accept bitcoin.' And then they'll be like, 'We only accept bitcoin,'" Draper predicted.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to U.Today.