The venture capitalist and founding partner of Draper Associates, Tim Draper, said the Altcoins could make Bitcoin better by acting as trial basis for upgrades.
During an interview with CNBC’s Squawk Box on Monday, Draper Says There will also be “many other cryptocurrencies,” created over time, which will help grow Bitcoin’s (Btc) dominance.
“The competition is good for the world, but as a percentage of all cryptocurrencies, Bitcoin, along with the first boom, they have a 40% part of the market, along with the next boom, they have a 50% market sharing, and now market sharing is running around 61 to 62%,” he said.
Adding that over time, “the dominant supplier builds the strongest network,” resulting in the programming of the developers for the “dominant supplier.”
Microsoft is the web2 bitcoin
A similar situation is played in Microsoft, Draper said, because most developers are building it when it first starts. However, some applications were created elsewhere and eventually sported.
Microsoft is considered one of the leading tech giants around the world, with its Windows operating system Getting More than 71% of market sharing.
“Well, the same thing is happening now with Bitcoin. All these smaller cryptocurrencies are experimenting and doing interesting -kind things and all good engineers suggest those in Bitcoin and thus there is a gravitational pull towards Bitcoin,” he said.
“There are other money that will come out as flashes in the pan but I think in general, we’re in a basic trend towards Bitcoin.”
However, data from electric capital is currently painting a different picture.
Their latest developer report estimates that there are only 2,583 total developers in Bitcoin – a small portion of the total developers in the stack of EVM (12,931) and Ethereum (9,094).
Bitcoin is a fence against government expenditure: Draper
Draper reiterated his stance that Bitcoin is a fence Against bad management and expenditure outside the government.
Draper said government spending has become “uncontrolled,” with spending as a percentage of gross domestic product that occurs in a “fast tears in the last hundred years,” with no sign of “slowing down.”
The national debt of the United States continues to grow year -time, with the Treasury Department estimate That in the last 100 years, the debt grew from $ 395 billion in 1924 to more than $ 37.2 trillion in 2025.
“You just hedge against this kind of government spending is Bitcoin, unless you want to touch gold, which is like handling the shells. It’s like being ancient -time in your thinking about the economy,” Draper said.
“Bitcoin is your alternative that gives you to deal with the key changes that have been happening to government policies over time.”
The prediction of $ 250,000 price can still be on the table
Draper foretold that Bitcoin will reach $ 250,000 And eventually the US dollar ended, even though he recognized that it had not been fulfilled.
Related: Harvard’s economist admitted that he was wrong about Bitcoin’s crashing for $ 100
“I’ve been predicting $ 250,000 for a Bitcoin for a long time. It turns out that I’m not right yet, but we got half there. So it’s exciting,” he said.
However, Draper predicted Bitcoin to reach $ 10,000, which it did in 2017, and he told Cointelegraph in 2023 That he only made a fresh prediction of $ 250,000 at the end of 2022 because he felt the pressure to have another crack after he nailed his first price prediction.
Bitcoin hit a new All times high $ 124,450 on August 14But since the back of 11.8% to trade around $ 109,144, According to This coingecko.
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