The famous investor, Bitcoin evangelist, and billionaire venture capitalist Tim Draper has recently met with the President of Argentina and suggested to him that the country adopt Bitcoin as its new national currency. Meeting Mauricio Macri, the President, Mr.Draper put forward the supposed plan for replacing the peso with Bitcoin.
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Clearly having a lot of fun during his stay in the country, Tim Draper was reportedly seen enjoying a nice ride on the La Bitcoineta van and doing some carpool karaoke. When reporters caught up with him to ask about his conversation with the Argentine President Mauricio Macri, he had the following statement to make about the suggestion he had made to Macri:
“I suggested that he make Bitcoin a national currency and to bring in 5G and let the market figure it out and build all the roads and everything else for him.”
His argument for asking the country’s President to roll out the red carpet for these new and transformative technologies representing the fourth revolution was that:
“Because they will, because everybody’s gonna come here if we’ve got, if he’s made the decision to go Bitcoin and 5G.”
Given that Argentina is battling a financial crisis underscored by a history of inflation, Tim Draper feels Bitcoin is the best solution to turn to, for dealing with the economic woes of the country.
While Draper’s optimism about Bitcoin in Argentina may be vaguely reminiscent of the way in which Maduro was interested in introducing Petro to save the Venezuelan economy, the results of both these endeavours are likely to be suspect.
Argentina is a country that has always had policies geared towards crypto adoption and Draper is really hopeful that this will lead to more seamless adoption. He further stated:
“It seems simple to me, because all you’re doing is you’re flowing with the decentralization movement. And that movement turns out to be really important and all the geographic borders are gonna fall and we’re gonna be one big world.”