Tim Draper, a well-known venture capitalist, made a statement that Bitcoin may take a dominant position in the blockchain world, similar to how Microsoft outperformed competitors in software.
Parallels Between Bitcoin and Microsoft
Draper argues that developers are currently "gravitating" toward the dominant blockchain—Bitcoin. He drew an analogy to Microsoft, which did not let Lotus 1-2-3 dominate the spreadsheet market by developing its own Excel program.
Historical Examples of Other Technologies
Draper recalled how Microsoft also managed to replace other popular programs like WordPerfect, and it also acquired PowerPoint. "All of these applications became standard with Microsoft, while early startups were marginalized," he noted.
Draper's Price Predictions for Bitcoin
In his forecasts, Draper claims that the price of Bitcoin could reach $250,000 as early as this year and could also potentially "surge" to infinity against the dollar as it continues to inflate.
According to Draper, "smart entrepreneurs are always building on the platform with the strongest gravitational pull," and currently that platform is Bitcoin.
