CryptoWallCity vs MEXC Exchange

Tim Draper Believes Bitcoin Can Hit $250,000

American investor Tim Draper is still convinced that the Bitcoin price will eventually reach $250,000.

In a recent interview with famous crypto trader Scott Melker, he predicted that more women will start using Bitcoin. This will greatly expand the user base of the cryptocurrency.

“Suddenly all women will have Bitcoin wallets and they will buy everything with Bitcoin,” predicted Draper.

Considering that around 51% of assets are controlled by women in the United States, it is not far-fetched to predict that they could push the Bitcoin price significantly higher.

According to prominent venture capitalists, retailers also haven’t realized that they can save 2% by accepting Bitcoin instead of a credit card issued by a bank. This can double their profits, says Draper, because they operate on very low margins.

Tim Draper Believes Bitcoin Can Hit $250,000. Source: Youtube

A wishful prediction

As reported by U.Today, the venture capitalist has repeatedly predicted that the BTC price will reach $250,000 by early 2023.

Back in 2020, Draper, who was an early investor in Skype and Hotmail, said that he would make Bitcoin the official currency in the United States if elected president.

In 2014, Draper purchased 30,000 Bitcoins in an auction conducted by the US Marshals Service. At the time, he correctly predicted that Bitcoin would hit $10,000 in 2018.

However, given that the leading cryptocurrency is currently trading at just $29,025, his $250,000 forecast will most likely fail miserably in less than a year from now.

Comments (No)

Leave a Reply