Tim Draper forecasts cryptocurrency will go mainstream in five years, leaving fiat to criminals

Billionaire investor Tim Draper has reiterated his claim that cryptocurrencies will become the financial norm in five years in an interview with Fox Business. The Bitcoin advocate has predicted that fiat will soon become mainly used for criminal purposes.

“The criminals will still want to operate with cash, because they catch everybody who is trying to use Bitcoin," said Draper. He noted that fiat money will probably become obsolete in any other circumstance due to the increased security offered by bitcoin. In reference to his own finances, Draper shared that he believes bitcoin to be much more secure than traditional banks, which are under a constant "hack attack."

The Fox Business appearance was not the first time where Draper shared his optimistic predictions for the future of cryptocurrencies—back in November, he confirmed his belief that bitcoin would reach $250,000 by 2022.