Famous venture capitalist Tim Draper believes that the current interest in Libra and other cryptocurrencies will have a positive impact on the development of Bitcoin.
In an interview on CNBC, Draper defended Bitcoin and Libra in light of recent criticism from a number of senior officials, including the President, Treasury Secretary and members of Congress.
When asked if the world has entered the post-bitcoin era, Draper said that it is Bitcoin that represents the true innovation of the cryptocurrency space and will ultimately become a tool that can change the boundaries, finances and powers of the authorities.
"I think all other cryptocurrencies are bridges to Bitcoin infrastructure," said Draper.
In his view, U.S. lawmakers are putting undue pressure on Bitcoin, blockchain and related industries. Libra does not require any regulators to intervene at all until it is launched, says Draper. "We put regulation above innovation. Facebook just announced Libra. They haven't even started yet, and the regulators are already attacking them," he added.
Previously, Draper criticized a possible ban on Bitcoin in India, calling the local authorities "pathetic and corrupt".
"People do bad things! The Government of India prohibits Bitcoin, a currency that gives hope for the prosperity of the country that needs it so much. Shame on India's leadership," he said.