Tim Draper reiterates his $250,000 Bitcoin prediction

Billionaire Tim Draper, during his speech at Web Summit 2022, predicted the price of the first cryptocurrency to rise to $250,000 by mid-2023. This is reported Decrypt.

In 2018, Draper predicted bitcoin at $250,000 by 2022, extended the forecast to early 2023 in the summer of 2021, and now extended it by another six months.

He also called digital gold insurance against mismanagement and noted that cryptocurrencies make it difficult for the government to control the population.

“You saw the speculation come out of bitcoin. Only hodlers left, they’re into it. They say it creates a freer and more trusting world. [Биткоин —] it is an honest currency, not tied to banks and governments. It is decentralized,” the billionaire explained.

Draper is confident that women will be the main driver of the next bull market, as they control about 80% of retail spending.

“You can’t buy food, clothes and housing with bitcoin yet, but once you can, there will be no reason to hold on to fiat currency,” he added.

Earlier, Arthur Hayes, the former CEO of BitMEX bitcoin exchange, called the return of China to the crypto industry as the driver of the next bull market. In his opinion, Beijing is already taking appropriate steps through the easing of regulation in Hong Kong.

Billionaire Tim Draper, during his speech at Web Summit 2022, predicted the price of the first cryptocurrency to rise to $250,000 by mid-2023. This is reported Decrypt.

In 2018, Draper predicted bitcoin at $250,000 by 2022, extended the forecast to early 2023 in the summer of 2021, and now extended it by another six months.

He also called digital gold insurance against mismanagement and noted that cryptocurrencies make it difficult for the government to control the population.

“You saw the speculation come out of bitcoin. Only hodlers left, they’re into it. They say it creates a freer and more trusting world. [Биткоин —] it is an honest currency, not tied to banks and governments. It is decentralized,” the billionaire explained.

Draper is confident that women will be the main driver of the next bull market, as they control about 80% of retail spending.

“You can’t buy food, clothes and housing with bitcoin yet, but once you can, there will be no reason to hold on to fiat currency,” he added.

Earlier, Arthur Hayes, the former CEO of BitMEX bitcoin exchange, called the return of China to the crypto industry as the driver of the next bull market. In his opinion, Beijing is already taking appropriate steps through the easing of regulation in Hong Kong.