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Billionaire investor Tim Draper predicted Bitcoin’s BTC/USD complete dominance over the dollar within the next five years on Wednesday, driven by what he sees as unprecedented innovation on the network.
What Happened: In an X post, Draper, a renowned venture capitalist and long-time Bitcoin advocate, highlighted the asset’s increasing market share and how innovations from other platforms have gradually migrated to Bitcoin.
“There is a gravitational pull toward Bitcoin,” he said. “All the innovation that started in altcoins (smart contracts, blockchain applications, ordinals) is moving to Bitcoin.”
He likened this phenomenon to Microsoft Corp. NASDAQ: MSFT) dominance in the operating system era, where applications like Excel and Word became standard with the tech giant, although the idea emanated from early startups.
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Draper highlighted five key applications being built on Bitcoin: decentralized finance or DeFi, smart contracts, Ordinals, Runes, and layer 2 solutions.
He said that entrepreneurs and programmers are favoring Bitcoin and predicted the asset to become “infinite” against the dollar in the next five years.
“When people ask what Bitcoin will be worth in 5 years, I say it will be worth one bitcoin. It may be infinite against the dollar as the dollar continues to inflate into nothingness.”
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Why It Matters: While Bitcoin indeed has seen innovations, it’s worth noting that Ethereum continues to be the largest smart contract platform and a major player in the DeFi space.
According to DeFiLlama, Ethereum has over $61 billion in total value locked as of this writing, head and shoulders above Bitcoin’s $6.38 billion.
For many market observers, Bitcoin is still regarded as a store of value asset and a digital money that can be used for transactions.
Meanwhile, a new report detailed Bitcoin’s transformation from a speculative digital experiment into a sophisticated macroeconomic asset. It highlights Bitcoin’s growing institutional maturity, structural liquidity, and macro alignment, positioning it as a serious contender on the global stage.
Price Action: At the time of writing, Bitcoin was exchanging hands at $107,888.62, up 1.26% in the last 24 hours, according to data from Benzinga Pro.
Photo Courtesy: Bukhta Yurii On Shutterstock.com
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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