April 1, 2023

Billionaire Investor Tim Draper Fails to Bring Bitcoin to Sri Lanka

Billionaire investor Tim Draper’s recent trip to Sri Lanka to promote bitcoin to the nation’s central bank was met with disappointment as regulators of Sri Lanka rejected the idea of using cryptocurrency within the country. Draper had hoped to push bitcoin as a financial tool that could be used to pay for goods and services, as well as to fight off rampant corruption in the country.

In his opening statement to the bank, Draper said, “I come to the central bank with decentralized currency.” However, the bank’s governor Nandalal Weerasinghe was quick to shut down the idea, stating, “We don’t accept… Adoption of 100 percent bitcoin won’t be a Sri Lanka.”

Draper had hoped to convince the central bank of Sri Lanka to adopt bitcoin as a means of payment, citing its potential to reduce corruption and increase financial transparency. However, it seems that the regulators of Sri Lanka are not yet ready to embrace the world of cryptocurrency.

Despite the setback, Draper remains optimistic about the future of bitcoin and its potential to revolutionize the world of finance. He has been a vocal advocate for the cryptocurrency for many years and has invested heavily in bitcoin startups and other blockchain-based projects.

While Sri Lanka may not be ready to embrace bitcoin just yet, Draper’s efforts to promote the cryptocurrency are sure to continue. As more and more countries around the world begin to explore the potential of blockchain technology and cryptocurrency, it seems likely that bitcoin will continue to grow in popularity and acceptance.

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