Billionaire Predicts Dollar Collapse, Advises Bitcoin to Feed Family

Legendary billionaire Tim Draper predicts the U.S. dollar will collapse by 2030, becoming "completely worthless" and triggering bank runs. He advises people to buy bitcoin to "feed their family."

Draper predicts the bitcoin price could hit $250,000 by end of 2022 due to the upcoming bitcoin halving in April, which will cut bitcoin rewards for miners in half. This could give bitcoin a $5 trillion market cap.

There are growing fears the massive $34 trillion U.S. debt pile is unsustainable and could drive inflation, collapse the dollar, and fuel a bitcoin price boom as investors seek alternatives.

The Covid pandemic and associated stimulus spending has already caused high inflation in 2022 that author Nassim Taleb warns could create a "death spiral" for the dollar.

Legendary investor Jim Rogers believes the huge U.S. debt will cause an economic downturn that will be "the worst in [his] lifetime," potentially benefiting alternative assets like bitcoin.