Tim Draper Insists Bitcoin Will Hit $250,000

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Tim Draper Insists Bitcoin Will Hit $250,000

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Crypto billionaire and venture capitalist Tim Draper has refused to back down from his past prediction that Bitcoin would one day achieve a value of USD 250,000.

During a Youtube interview with crypto influencer @cryptoWendyO, he did, however, extend his prediction’s deadline by a year, from his initial date of 2022 to 2023. Speculators may probably take some positive vibes from this mere one year delay, given that the market has been struggling to put forward a recovery since hitting 2018 lows of USD 3,000.

Throughout the interview, Draper maintained a bullish outlook for the world’s most popular cryptocurrency, believing that people will continue to use Bitcoin as a method of payment and peer-to-peer value transfer, as originally intended:

“I think eventually they’ll spend it when they feel like the value has come to a pretty good place. But, USD 250,000 per Bitcoin in 2022 is what I predicted. It might be 2023, but it’s in that range. And that’s only a 5% market share of all the currency in the world. So, I can see why people who are real believers are holding on.”

He also retained his views of Bitcoin as a store of value, believing that it would even one day outpace gold as the world’s choice of storing value. He says that gold “is so gone” despite many people still holding on to it:

“What would you use gold for when you can store value with Bitcoin? It’s nonsense. But I’m sure a lot of people still do it, and they think of the gold standard as the good coin. But I look at it and I say, ‘What? You’re comparing Bitcoin to gold?’ It’s like 10 generations from when we used gold to transfer value.”

 

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