Why did Tim Draper visit the Central Bank of Sri Lanka?

Billionaire investor and Bitcoin evangelist Tim Draper visited the Central Bank of Sri Lanka to promote Bitcoin as a solution to combat corruption. Despite Draper’s efforts, Governor Nandalal Weerasinghe showed a cold reception and rejected the idea of adopting Bitcoin.

Is bitcoin a solution to Sri Lanka's economic crisis?

Tim Draper, a billionaire investor and Bitcoin advocate, visited the Central Bank of Sri Lanka to promote the use of Bitcoin to combat corruption. The governor of the bank rejected the idea and stated that the country did not want to worsen the current economic and political crisis by introducing cryptocurrency.

What did Draper do with Bitcoin?

In 2014, Draper made a significant investment in Bitcoin, buying 30,000 BTC, worth $19 million, seized from the dark web drug marketplace Silk Road in an auction held by the US Marshals Service. That same year, he predicted that the price of Bitcoin would reach $10,000 in three years, which came true in 2017 when Bitcoin surpassed $20,000.

Should Sri Lanka follow El Salvador's lead in using bitcoin?

During his meeting with Weerasinghe, Draper, dressed in a Bitcoin tie, said that should Sri Lanka follow El Salvador's lead in making use of Bitcoin, "A country known for corruption will be able to keep perfect records with the adoption of Bitcoin.”