Bitcoin ETF possible in two years – Tim Draper
Contrary to the expectations of the crypto community, Bitcoin bull Tim Draper has expressed confidence that Bitcoin ETFs will be approved in one to two years. Tim said this during a recent interview with Crypto news hub. (although world’s first Bitcoin ETF has been approved in Switzerland at the time of publishing this article)
According to him, there is a technical reason why an ETF has not been approved but it will be in place in one or two years. Asked why the US SEC has not approved a Bitcoin ETF, He said:
“I think there’s a technical answer to that and I think it’s a matter of time. The technical answer is much more than you want to hear, but I do believe that within a year or two, the first ETFs will be approved for Bitcoin and that sure will open the market up, right?”
He also emphasized that he is still a big fan of Bitcoin, adding that any government that tries to push Bitcoin away does so at its own peril. Tim believes Bitcoin and blockchain technology are a transformative force that is capable of revolutionizing every sector of the world economy be it health, finance, commerce or government itself.
“They’re all going to be transformed by these new technologies that all started with Bitcoin and Bitcoin is really going to be the currency of the future. I think governments push it away at their own peril. I think any government who pushes Bitcoin away is pushing away the next 50 years of progress. The governments that attract it and accept it, and want to have a lot of Bitcoin in their government—they are gonna be major beneficiaries and their people are gonna be major beneficiaries of Bitcoin and all those technologies.”
He also believes that the U.S government will make it easier for Bitcoin users and the blockchain technology by next year 2019, by making crypto friendly regulations just like they did with the internet that has been of enormous help to the U.S government.
On the current crypto market crash and when the next bull run should be expected, Tim Draper stressed his $250,000 prediction for 2022 but said he can only predict for the far future not short term predictions which he said should be done by the financiers.
With Tim Draper’s predictions of an ETF in two years, does that mean there is no hope of getting an ETF in 2018? Join our Telegram Channel to stay updated with latest bitcoin news and updates.