Tim Draper: Those who do not own Bitcoin should feel fear

CryptoWorld Net reports that, according to Bitcoin Magazine, billionaire Tim Draper said Bitcoin has entered the mainstream, and that growing adoption marks the early stages of a global financial system transition. He noted that governments are now “rolling out the red carpet” for the Bitcoin industry and believes the community is already feeling the changes. Draper said people will move in stages: from the US dollar to stablecoins, and then to Bitcoin as the ultimate store of value. He praised the Bitcoin system designed by Satoshi Nakamoto for having no government control and no intermediary banks. Draper shared his own early experience buying Bitcoin, including losses at Mt. Gox, and his warning about the fragility of fiat currencies. He mentioned that anyone managing a household “should hold six months’ worth of Bitcoin” as protection, especially when facing inflation. He emphasized that if governments do not have Bitcoin during hyperinflation, their currencies could become worthless. He called on Bitcoin holders to drive widespread adoption of Bitcoin, saying this will be an effective way to counter currency risks.