Billionaire venture capitalist Tim Draper has long believed Bitcoin (BTC) would surge to $250,000.
In 2018, Draper first predicted the top crypto asset would hit $250,000 by 2022.
When that failed to happen, the venture capitalist amended the timeline of that prediction until mid-2023.
Now, Draper tells Benzinga he still thinks BTC is destined to jump to a quarter of a million dollars.
“My first prediction was in 2014 when Bitcoin was at $180. I said that it would be $10,000 in three years. Sure enough, by the end of 2017, Bitcoin hit $10,000. Since then, I have not been as prescient. I thought Bitcoin would hit $250,000 by 2022! I think I am going to be three years off.”
The venture capitalist predicts BTC will hit $120,000 by the end of the year and then more than double in price next year.
“It is a long-term trend. Bitcoin is just better technology than using banks and governments as the trusted third party. It is transparent, global, open, keeps perfect records, etcetera. It will make the world wealthier. When retailers and government realize that Bitcoin will save them money on each transaction, then there will be a great incentive for everyone to use Bitcoin.”
BTC is trading at $92,100 at time of writing. The top-ranked crypto asset by market cap is down more than 2% in the past 24 hours.
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