Billionaire Tim Draper is a strong supporter of the world’s first crypto. This American venture capitalist has often been very optimistic and bullish on bitcoin (BTC). In May, he was interviewed by renowned crypto trader and producer Scott Melker. During the interview, he made a highly optimistic prediction about the price of crypto in the coming months. Recently, during Web Summit 2022, he confirmed his prediction.
Bitcoin (BTC): six digits, then seven digits?
In an online interview with Scott Melker, American venture capitalist Tim Draper made a very bullish prediction about bitcoin (BTC). Indeed, he said:All of a sudden all the women will have bitcoin wallets and they’ll be buying things with bitcoins and you’ll see a bitcoin price that’s going to explode to $250,000“.
The billionaire reiterated his remarks at the recent Web Summit, held in Lisbon from 1er to Nov. 4, 2022. Draper then claimed, “By mid-2023, I expect bitcoin to hit $250,000“. He also indicated that flagship crypto adoption will increase. The venture capitalist expects BTC to become a means of payment for food.
He also thinks that crypto will be used to pay for housing and that fiat currency will be used less and less. Recall that in May, Draper had declared:I will be very disappointed if we don’t see seven-figure bitcoin in the coming years“.
Tim Draper advises against restricting the use of BTC
The American venture capitalist noticed that countries would suffer if they decided to restrict the use of bitcoin (BTC). He suggested that governments should not hold back the adoption of this crypto just because they want to control all currencies.
“Whenever there’s a new technology, and if the government adopts it, lets their people experiment with it, those people will often do great things… we’re going through that right now, it’s going to be interesting“said Tim Draper.
From the early days of bitcoin (BTC), Tim Draper embraced crypto. Indeed, the venture capitalist acquired his first BTC tokens in 2011 on Mt. Gox. But he admitted to losing all of his BTC holdings during the exchange’s collapse. Despite everything, he remains convinced that crypto has a lot of potential.
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Far from having dampened my enthusiasm, an unsuccessful investment in a cryptocurrency in 2017 only increased my enthusiasm. I therefore resolved to study and understand the blockchain and its many uses and to relay with my pen information relating to this ecosystem.