Bitcoin big whale and advocate, Tim Draper, has reiterated his stance that Bitcoin (BTC) is one of the best investment vehicles in the world and as such, has encouraged millennials to latch onto the Bitcoin movement and enjoy the many benefits of the digital currency.
Millennials have been encouraged to key into the many benefits that abound in Bitcoin as it could be their wisest decision at retirement age.
Billionaire Tim Draper who was one of the earliest investors in the virtual currency explained that Bitcoin is the future of money and the greatest beneficiaries will be millennials who invest at the height of their careers.
The largest and the most popular cryptocurrency by market capitalization, Bitcoin now has a market cap of $157.5 billion. At the time of writing, Bitcoin price is $8,456, which shows a 0.82% increase in the last 24 hours.
Millennials are in Debt
Tim Draper who has created a sort of anti-bank legend for himself accused the banks of putting millennials in hundreds of billions in debts while the stakeholders reap the benefits to the detriment of the millennials.
“Things aren’t quite working for millennials. They are owing a lot and with the current salaries, they can’t pay it off. It’s a really difficult moment for them and they’ve become renters, rather than buyers because they have to.”
Leave the Bank and Invest in Bitcoin
Draper reiterated his earlier position, stating that Bitcoin is a viable alternative that will save young people from the shackles of the banks.
He encouraged them to start investing in a currency that would give them the opportunity to build their own empire and not take away their money.
He explained further:
“Start building your own empire in the new model that doesn’t require that you pay 2.5 to 4% every time you swap your credit card to some bank or another that does not require all the heavy regulations we have that are all tied to the dollar.”
Blockchain Technology Making the World a Global Village
Tim Draper also urged millennials to look inwards and not rely on the rhetoric of their parent and grandparent.
He’s of the belief that the tactics that worked in the previous generation will certainly not work now, as the world is now a global village.
The call for millennials to embrace cryptocurrency and blockchain is not a new gospel, as Coinspeaker reported in 2017, an Ethereum based lending platform Celcius was ready to help millennials secure easy, fast and affordable loans and free them from the hands of credit lending service providers who often milk them dry.
Author Osaemezu Ogwu is a cryptocurrency journalist with several years of experience in the crypto-verse.