December 5, 2022

Tim Draper Expects BTC to Be Bought at $250K by Mid-2023

Wild Predictions about BTC Haven’t Stopped Pouring In

Currently, Bitcoin has been swapping hands at a price of $20,600 which is relatively less than its crucial ceiling price of $20,800. Bitcoin is trying hard to cross this crucial benchmark since its moving average is on the positive side.

However, considering the circumstances prevailing right now, it would be preposterous to make any wild predictions, particularly with regard to Bitcoin. It seems however that the circumstances don’t bother Tim Draper.

Tim Draper is the founder of an acclaimed venture capitalist called ‘Draper Fisher Jurvetson’ in the US. Draper is also best known for being a huge appreciator of the leading cryptocurrency i.e. Bitcoin.

Draper’s Wildest BTC Prediction

While addressing the audience participating in the Web Summit 2022, Draper remarked that he is fond of bearish crypto markets. He even went on to state that by mid-2023 Bitcoin’s value would be $250K per unit.

Draper, who is among the few billionaires in the world, said that crypto winter is here which necessitates his company to invest in it.

The billionaire is highly regarded in the crypto industry particularly because of his reputation as a venture capitalist. However, Draper also noticeably invests in companies like Skype, Tesla, SpaceX, Baidu, Robinhood, etc.

It was a while ago when somebody asked Draper about his future predictions pertaining to the value of Bitcoin. At that time, which was about four years ago, he predicted that the value of Bitcoin would be above $10,000.

His prediction of Bitcoin at $10K came true.

Similarly, in April 2018, he made another prediction regarding Bitcoin, which seem to be the wildest he had ever made. He predicted that by the end of 2022, Bitcoin would be sold at $250,000.

He then went on to double his BTC prediction in June 2021.

Thereafter late in June 2021, he shared his Bitcoin prediction with the ‘Wolf of All Street’ and told him Bitcoin is likely to hit the value of 250K by 2022’s end.

In the 2022 Summit, however, he argued that Bitcoin enables investors in countering bad governance.

Although currently, it seems impossible that Draper’s wild prediction may likely come true, one thing is quite prominent.

Draper has borrowed an additional six months’ time. He hasn’t either reduced or increased the price of Bitcoin which he had originally suggested way back in 2018.

Earlier the prediction was suggested either by mid-2021 or at the end of 2022. Now he is suggesting that a single unit of Bitcoin @ $250,000 will become true in the mid of 2023.

Draper’s Advice for Investors

According to Draper, it is not the time for investors to place their bets on fiat currencies. Instead, he suggested that they should immediately buy Bitcoins or Ethereum.