The price of Bitcoin will reach $250,000 by the beginning of 2023, despite the crisis caused by the collapse of FTX. This was stated by venture capitalist and billionaire Tim Draper in an interview. Cointelegraph.
“No change in the price forecast,” he stressed.
According to Draper, the collapse of FTX “has nothing to do” with the success of the first cryptocurrency, since it is decentralized, while the Sam Bankman-Freed exchange is not.
“FTX was centralized, dependent on one founder. When a currency is centralized – for example, by a central bank – it has a single point of failure, and it can also be manipulated, ”the billionaire explained.
The current crisis will lead to even more decentralization in the crypto industry, Draper suggested:
“I think it’s a fiasco [с FTX] will attract many more bitcoin maximalists. Please note that your money is not secured in a centralized system, be it crypto or fiat.”
He also emphasized the importance of self-control, but expressed confidence in the Coinbase bitcoin exchange. According to the investor, he stores his assets on this platform and in a Ledger hardware wallet.
“They don’t use my tokens to borrow or invest,” the billionaire said.
Earlier, the head of Coinbase, Brian Armstrong, made a similar statement. He stressed that nothing threatens the users of the exchange, and the company itself does not dispose of the assets of clients without their knowledge.
In 2018, Draper predicted Bitcoin at $250,000 by 2022. He later extended the forecast to early 2023 and recently extended it by another six months.
Recall that Binance CEO Changpeng Zhao drew a parallel between the current situation in the industry and the financial crisis of 2008. In his opinion, in the near future even more companies may fail.
Earlier, Circle co-founder and CEO Jeremy Allaire compared FTX’s troubles to the collapse of Lehman Brothers investment bank.
Read Cryplogger bitcoin news in our Telegram – Cryptocurrency news, courses and analytics.
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The price of Bitcoin will reach $250,000 by the beginning of 2023, despite the crisis caused by the collapse of FTX. This was stated by venture capitalist and billionaire Tim Draper in an interview. Cointelegraph.
“No change in the price forecast,” he stressed.
According to Draper, the collapse of FTX “has nothing to do” with the success of the first cryptocurrency, since it is decentralized, while the Sam Bankman-Freed exchange is not.
“FTX was centralized, dependent on one founder. When a currency is centralized – for example, by a central bank – it has a single point of failure, and it can also be manipulated, ”the billionaire explained.
The current crisis will lead to even more decentralization in the crypto industry, Draper suggested:
“I think it’s a fiasco [с FTX] will attract many more bitcoin maximalists. Please note that your money is not secured in a centralized system, be it crypto or fiat.”
He also emphasized the importance of self-control, but expressed confidence in the Coinbase bitcoin exchange. According to the investor, he stores his assets on this platform and in a Ledger hardware wallet.
“They don’t use my tokens to borrow or invest,” the billionaire said.
Earlier, the head of Coinbase, Brian Armstrong, made a similar statement. He stressed that nothing threatens the users of the exchange, and the company itself does not dispose of the assets of clients without their knowledge.
In 2018, Draper predicted Bitcoin at $250,000 by 2022. He later extended the forecast to early 2023 and recently extended it by another six months.
Recall that Binance CEO Changpeng Zhao drew a parallel between the current situation in the industry and the financial crisis of 2008. In his opinion, in the near future even more companies may fail.
Earlier, Circle co-founder and CEO Jeremy Allaire compared FTX’s troubles to the collapse of Lehman Brothers investment bank.
Read Cryplogger bitcoin news in our Telegram – Cryptocurrency news, courses and analytics.
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