Bitcoin on track to challenge U.S. dollar?

Draper Associates founder Tim Draper joins 'Cavuto: Coast to Coast' to break down the cryptocurrency craze and how it could transform the future of commerce.its staying power, according to Draper Associates founder Tim Draper, who says the asset is distinguishing itself from other cryptocurrencies.," Draper told FOX Business' "The Claman Countdown" in an interview this week.

"Having a bank and government decide on what currency is good is not as effective as having a bitcoin where there is a trusted third party, which are hundreds of thousands of nodes making sure the transaction was done properly."The price of bitcoin has hovered between $29,000 and $30,000 levels in 2023 and has gained roughly 76% over the past year.

"It’s just better, safer technology, and I think eventually the rest of world will come on board," Draper added.

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