In a new interview on YouTube channel Simulation, billionaire venture capitalist Tim Draper talks about the origins of money and why he believes Bitcoin is poised to trigger a currency revolution, claiming that technological improvements will eventually make Bitcoin faster than Visa and help people and businesses avoid hefty transaction fees.
“ 2.5 to 4% of every transaction you ever do is picked up by the credit card company and the bank gets the bulk of that. That would go away. And so you do see the banks feeling threatened here and for good reason. Because if you use Bitcoin instead of dollars, the banker doesn’t control your Bitcoin,” he said.