Draper: Businesses will adopt Bitcoin as trust in fiat currency wanes

Noted Silicon Valley investor and Bitcoin advocate Tim Draper predicted on a recent TV program that declining trust in fiat currency will ultimately drive businesses and consumers to Bitcoin. He argued that people will grow tired of watching the value of one dollar drop to 90 cents, then 80, and then 70, before eventually plummeting toward zero. Once that tipping point is reached, Draper continued, businesses will quickly reconsider their payment methods. He added that if he were a retailer, his first move would be to post a sign accepting Bitcoin.