Tim Draper says Africa can leapfrog the world with Bitcoin

American billionaire venture capitalist Tim Draper says Africa could move straight from traditional currencies to Bitcoin ahead of the rest of the world, pointing to the continent's young population and its fast adoption of mobile money.

Draper made the comments in a conversation with Olubunmi Fabanwo, the founder of the Africa Blockchain Festival, ahead of the event's 2026 edition in Nairobi from Oct. 15 to 17.

"I think Africa can leapfrog the rest of the world by jumping from fiat currency to Bitcoin, and make all money in software before the rest of the world catches up," Draper said.

He said Africans were already using Bitcoin to make payments and to connect with the global economy. "I'm very excited about what Africa's done. Africa's been a big part of the Bitcoin economy," he said.

Draper argued that the same conditions that left many Africans outside the formal banking system could now help newer technologies spread faster there. The continent built much of its digital finance on mobile phones rather than bank branches, and millions of people send and receive money without a conventional bank account. Draper said blockchain could go well beyond cryptocurrency trading, with uses in payments, business operations, financial reporting and record keeping.