$250,000 per bitcoin? Tim Draper explains why he still sticks to his bullish prediction

Prominent venture capitalist Tim Draper continues to stick to his ultra optimistic bitcoin price prediction.

Venture capitalist Tim Draper recently told Bloomberg that bitcoin price would be able to reach the $250,000 level and even surpass these ultra optimistic price targets.

Draper continues to stick to his prediction despite the steep market decline.

There will be a time when you can buy your food, clothing, and shelter, all in bitcoins.

He went on to mention that women control a whopping 80% of retail spending. Draper is confident that they will finally be able to take Bitcoin mainstream.

“When women realize they can get a discount by paying in bitcoins, when retailers realize they can double their profits by accepting bitcoins, things are going to move pretty fast.”

The venture capitalist, who backed successful companies such as Skype and Hotmail early on, has repeatedly predicted that the price of bitcoin could hit $250,000 by the end of 2023.

During a recent Web Summit appearance, Draper said that the biggest cryptocurrency would still be able to reach the aforementioned goal within six months.

Bitcoin is currently trading below the $17,000 level following the collapse of FTX.

Draper told Bloomberg that the FTX stock market crash was “predictable” since the beleaguered cryptocurrency exchange was highly centralized. “Everything was centered around one man. And when you centralize anything, bad things can happen“, he added.

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