Tim Draper Advises Argentina’s President to Invest in Bitcoin

Famed venture capitalist and bitcoin investor Tim Draper recently met with Argentina’s president, Mauricio Marci, and chief of staff, Marcos Pena. Mr. Draper reportedly advised president Macri to invest in bitcoin.

Mr. Draper Met With President Macri and Marcos Pena at a Forum in Puerto Madero Organized the Country’s Ministry of Production

Reports state that Mr. Draper wore a tie donned with the bitcoin logo throughout his Argentinian trip. Mr. Draper described bitcoin as “a social transformation” and “a new form of global currency” to local media. Although Mr. Draper conceded that “there is still a long way to go” regarding cryptocurrencies, he stated that bitcoin “is already a valuable part of society,” adding that “If the local currency implodes, as it once did here, whoever has bitcoins will be fine.”

Local media has stated that during a private meeting with Marcos Pena, Mr. Draper advised that distributed ledger technology (DLT) can be used as means to “end bureaucracy,” describing such as having the potential to give Argentina a competitive edge “at a time when all governments are competing with each other.” Mr. Draper used the “agri-food sector” as an example, stating that the application of “new technologies” including “bitcoin [and] blockchain] could render Argentina “a world leader” in the industry…

Read Full: Tim Draper Advises Argentina’s President to Invest in Bitcoin