Bitcoins rally last week got headlines all over the world. Tim Draper, a venture capitalist, and cryptocurrency investor in an interview suggest millennials to invest in cryptocurrency.
According to the American investor, investment in Bitcoin would secure their financial future.
Tim had a fireside interview with Liz Claman, on Wednesday, and covered topics related to Elon Musk, SpaceX and Bitcoin.
The interview ended with advice for Millenials to invest in Bitcoin to secure their financial future.
According to Draper, millennials have been part of the financial system which was created by the previous generation and would not work in the future.
Draper said “the current banking system is Oldsmobile” and the future generation would not want to use an Oldsmobile.
Draper said the millennials are already born with debt and saving one dollar at a time for retirement would not work for them.
The young people around the world are more likely to invest in Bitcoin, according to some financial experts.
Bitcoin was launched in 2009 by Satoshi Nakamoto, who succeeded in building a trustless peer to peer form of payment without a third party. Nouriel Roubini, an American economist in 2018 called Bitcoin the mother of all scams.
According to Coin Market Cap, at press time Bitcoin is priced at $8,317.53 with a market cap of over $151 billion.