American venture entrepreneur Tim Draper, who founded Draper Fisher Jurvetson (DFJ), is still certain that the cost of one bitcoin will rise to $250,000 in value. At the Draper University blockchain party in April 2018, Draper made the following prediction: $250K by 2022. Draper claimed he expanded his projection by six months during this year’s Web Summit 2022 event because he now believes bitcoin will reach that price level “by mid-2023.
Bitcoin to Reach $250K by Mid-2023, Per Tim Draper
The billionaire investor stated during his talk that the “crypto winter” is the “perfect time to be investing” for venture capitalists (VC). In addition to being a well-known venture capitalist in the cryptocurrency industry, Draper has backed a number of well-known companies, including Tesla, SpaceX, Robinhood, Docusign, Ring, Skype, and Baidu.
Draper was questioned about what he thought the price of bitcoin (BTC) would be in four years after successfully predicting that the value of the digital asset would rise over $10,000 per unit a few years earlier. In the middle of April, the multibillionaire investor attended a luncheon hosted by Draper University, which specializes in blockchain technology. At the time, Draper predicted that BTC could reach $250,000 by 2022. In a tweet titled Serious winds (of change) at our block(chain) party last night, Draper predicted $250K by 2022.
In June 2021, Draper reiterated his $250K prediction. In June 2022, Draper projected that BTC will achieve his $250K objective “by the end of this year or early next year” in an interview with Scott Melker, a.k.a. the Wolf of All Streets. In the midst of this year’s bear market, Draper asserted at the Web Summit 2022 conference that bitcoin is only insurance “against horrible governance.” Draper has now extended the $250K prediction by six months, even though he still thinks it will come true.
As Draper put it By mid-2023, he predicts that the price of bitcoin will reach $250,000.
No Justification to Hold on to Fiat Money
Draper also stated that he believes women will be the primary demographic of retail investors, propelling bitcoin’s price to the $250K range. The remarks were identical to those he expressed during his interview with the Wolf of All Streets in June. Draper insisted during the Web Summit 2022 event that a boom in bitcoin demand will result from retail spending.
Draper also stated that it is now difficult to utilize bitcoin for things like food, clothing, and housing. Draper, on the other hand, argues that once retail spenders can use bitcoin (BTC), “there will be no incentive to hold on to fiat currency. The venture capitalist also discussed stablecoins, noting that while they are a nice “bridge to bitcoin, they are centralized and, ultimately, useless in comparison.
