Tim Draper, pro-Bitcoin billionaire and libertarian on tour in Paris

Tim Draper

Tim Draper – during the PBW 2023 – © RoyalsBlue.com

L’investor and Bitcoin maximalist made the show at Carrousel du Louvre during the PBW 2023. Tim Draper sang, literally, the praises from BTC and booed the political leaders and theinterventionism.

The Silicon Valley counts among its ranks well-known libertarian figures such as Peter Thiel or Tim Draper. The latter, a billionaire investor, is also an early supporter of Bitcoin.

A detractor of central authorities, he defends a liberated finance (decomplexed?). The founder of Draper Goren Holm is certainly not the most ardent supporter of the existing banking system and its regulation of which he considers us “prisoners”.

Apology of economic liberalism

His aspiration, that of a ” Bitcoin economy “. But to exist, it needs “strong political leaders”. However, one has to go back a long way, to George Washington, to find an eligible leader “who trusts the people and gives them their freedom”.

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A strong leader could thus embrace the decentralization and crypto-currencies, suggests Tim Draper. Otherwise, a centralized economy and government hinders any economic development.

In a perilous exercise, the investor ventures a parallel with the two Koreas, North and South. North Korea would illustrate the control option with its “Marxist, communist, socialist philosophy”. South Korea, on the other hand, embodies freedom, a “capitalist society”.

For Draper, this comparison illustrates the strengths of the free market – neglecting to highlight the drifts of capitalism and its inability to redistribute wealth. Caricatural or simply neoliberal. Your choice.

A banking system in loss of confidence

The essential thing for the financier is confidence, “critical”, he insists. This is currently going through a crisis, he continues, referring to the bankruptcy that has just hit American banks.

We have lost confidence in the banking system,” he insists.

The political reaction, in this context, is not the one expected by Tim Draper. He regrets the hostility of the leaders towards Bitcoin.

In this environment of uncertainty and loss of confidence, the billionaire encourages companies not to rely entirely on the current system and the banks. What is the alternative then?

Managers clinging to their power

In part, buying Bitcoin as a hedge against risks of centralization and government control. It would also be an appropriate response to the high level of uncertainty, partly generated by technology.

We are now in the midst of this exciting period in which a technology has emerged that is superior to anything that has existed before,” argues Draper, a proponent of a transition to a new currency – crypto, naturally.

“Many people resist change. Weak leaders resist, of course. Strong leaders embrace change. And promise, the new monetary system will bring more wealth to all.

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Satoshi, wherever you are, thank you for bitcoin

But the Bitcoin pill is proving too difficult for governments to swallow, says the champion of liberalism. For the latter, the authorities are worried about their own prerogatives, powers … and their central banks.

Tim Draper concludes with a ditty, a love song to Bitcoin. These words, written 4 years earlier, he dedicates to the banks of Silicon Valley, to Credit Suisse, but also “to all the banks that have failed and will fail, as well as to the governments that refuse to trust”, also promised to fail, like their currencies.

“When Satoshi Nakamoto made a token perfecto, no friction, cross-border, decentralized (…) Bitcoin (…) makes the banks look funny (…) governments don’t know what to do (…) we want a new world’s order (…) Satoshi, wherever you are, thank you for bitcoin, the blockchain and more (…)”

Applause. It’s your choice.

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