Legendary billionaire investor and Bitcoin proponent Tim Draper has urged the president of Argentina Mauricio Macri to legalize Bitcoin. Draper said legalizing the top-ranking cryptocurrency will help boost the country’s economy, according to Cointelegraph.
The Silicon Valley-based venture capitalist held talks with Macri on how they can put the South American country’s economy on a stable path. During the discussion, Draper touched on the potential of the blockchain, crypto and other emerging technologies for reviving the economy of Argentina. He said:
“We were speaking of Bitcoin and the devaluation of the peso, and I proposed a bet: if the peso would be valued more than Bitcoin, I would double my investment that I was making for the country. But if Bitcoin gained a higher rate than the peso, they would have to declare it as a national currency. That would be a perfect decision, as there’s a lack of confidence in this coin.”
Following his fruitful meeting with the head of state, Draper shared his views in an…