{"id":73478,"date":"2023-02-02T14:09:49","date_gmt":"2023-02-02T12:09:49","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=73478"},"modified":"2025-09-09T14:22:27","modified_gmt":"2025-09-09T11:22:27","slug":"tim-draper-urges-sri-lanka-to-legalise-bitcoin","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/tim-draper-urges-sri-lanka-to-legalise-bitcoin\/","title":{"rendered":"Tim Draper urges Sri Lanka to legalise Bitcoin"},"content":{"rendered":"

The adoption of Bitcoin in Sri Lanka and the widespread deployment of artificial intelligence could transform the country into a paradise for global entrepreneurs, said venture investor and billionaire Tim Draper, according to Daily Mirror<\/a>.<\/p>\n

He noted that El Salvador and Estonia have undergone similar transformations.<\/p>\n

The entrepreneur met with representatives of local startups and key figures in Sri Lanka, including its president Ranil Wickremesinghe.<\/p>\n

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“How do you attract business to a country? If you had 5G everywhere, if Bitcoin were the currency, if you had a specialization in AI and a drive to digitise the country, amazing things could happen. [\u2026] Why not step forward and declare that Sri Lanka<\/em>\u2014 a country that will implement technologies for all?”<\/em> \u2014 he said.<\/p>\n<\/blockquote>\n

The billionaire explained the case for legalising digital gold as a hedge against the rupee’s devaluation, which has fallen by about 80% against the US dollar in the last six months.<\/p>\n

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“Of course, Bitcoin has taken a big hit, but it’s not as bad as that. Entrepreneurs would say they’d rather have a currency that grows in value over time than one that is almost guaranteed to lose value next year,”<\/em> he explained.<\/p>\n<\/blockquote>\n

According to Draper, decentralized cryptocurrencies could potentially avert a coming economic crisis sparked by excessive money printing and profligate spending.<\/p>\n

Bitcoin is a global, transparent, and immutable ledger, a faster way to transfer money, and a means for governments to raise tax revenue while cutting corruption and wasteful spending, he added.<\/p>\n

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“I believe the next revolution \u2014 cryptocurrencies, and then AI \u2014 has the potential to be even greater than what the Internet achieved in its time”<\/em>, the billionaire said.<\/p>\n<\/blockquote>\n

Coinbase CEO Brian Armstrong proposed<\/a> Bitcoin as a common currency for Brazil and Argentina.<\/p>\n","protected":false},"excerpt":{"rendered":"

The adoption of Bitcoin in Sri Lanka and the widespread deployment of artificial intelligence could transform the country into a paradise for global entrepreneurs, said venture investor and billionaire Tim Draper, according to Daily Mirror.<\/p>\n","protected":false},"author":1,"featured_media":73479,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1138,954],"class_list":["post-73478","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-opinions","tag-tim-draper"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73478","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=73478"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73478\/revisions"}],"predecessor-version":[{"id":73480,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73478\/revisions\/73480"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/73479"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=73478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=73478"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=73478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}