Recently during an interview, Billionaire investor Tim Draper has said millennial need to buy Bitcoin (BTC) over traditional finance methods to gain capital. Draper said he believes Bitcoin is particularly important for millennial if they want to set aside enough capital for their retirement.
The ace investor suggests that traditional banking system is completely outdated. The millennial cannot rely on some system from their father’s time. He quoted- “You look at Bitcoin and you say ‘Hey, this is great because it’s not my father’s Oldsmobile. Our banking system is the Oldsmobile, is the old Oldsmobile.”
Draper said millennial need to build their entire finance game on a different model that does not impose hefty fees and regulations on transactions, unlike the dollar. He said there is no use keeping the capital aside like older generations did as it won’t cut it in today’s economy. He concluded by saying, “I think if you really want it to work, I think you go bitcoin or crypto.”
Bitcoin is considered to be a solution to a highly inflationary and debt-based financial system by many. And many people are now looking for ways to buy Bitcoin in Montreal and other parts of the world. The traditional finance methods only put millennial into hundreds of thousands of dollars of debt according to Draper. He criticizes the faulty banking system while explaining that with current salaries they can’t pay the debt off and they become renters over buyers and then that leads to difficult times. The person gets struck and is not ale to move freely with capital and goods throughout the world.
