Billionaire Investor Tim Draper Still Bullish on Bitcoin, Foresees $250,000 Price in the Future – Here’s the Timeline
Tim Draper, the well-known venture capitalist and Bitcoin proponent, still holds a very bullish outlook on Bitcoin and the cryptocurrency ecosystem in general. He predicts that the Bitcoin price could reach $250,000 by 2023, given its current trajectory. Draper previously offered a similar prediction in 2018, when he forecasted a $250,000 Bitcoin price within three to four years. His prediction came true in February 2021, when Bitcoin pushed past the $53,000 mark. In April 2021, when asked about his current prediction, Draper told Yahoo Finance that he was still “sticking to his guns.” He based his prediction on the growing demand for Bitcoin as a store of value and also noted that the crowded stock market has generated a greater interest in alternative investments, such as Bitcoin. Draper also believes that the widespread use of Bitcoin as a legitimate currency is the future of money. He believes it is inevitable that digital currency will take over at some point in the future, and Bitcoin “will be the big winner.” To back up his prediction, Draper pointed to Bitcoin’s recent price history and asserted that it has weathered the current volatility and is likely to continue rising since it is no longer considered a fringe asset class. Draper also noted that more people are turning to Bitcoin now due to its increasing popularity and recognition as a legitimate asset. Once more institutional investors adopt it, he thinks the price could see a big increase. Ultimately, Draper is confident that Bitcoin’s price will reach $250,000 by 2022 or 2023 and believes it will become the world’s single global currency. This would be a massive step in digital currency adoption and could serve to revolutionize the financial world.