Tim Draper, a well-known early-stage business investor, has maintained his $250,000 Bitcoin (BTC) projection.
Bitcoin is still on track to reach $250,000.
Tim Draper, an American venture capitalist, and millionaire, has confirmed his positive outlook on Bitcoin’s future, saying that as the number of users grows, the leading cryptocurrency will see widespread adoption.
Draper went on to say that Bitcoin represents freedom and trust and that it has already had a positive impact on millions of people all over the world, particularly in economically troubled countries like Nigeria, Argentina, and Turkey, where the local currency continues to fall in value against the US dollar.
Furthermore, Draper blamed the government’s never-ending money production, which has increased the world’s money supply since the COVID-19 epidemic began. Bitcoin, according to the wealthy investor, is a contemporary inflation hedge.
Draper said when questioned about his famed $250,000 Bitcoin prediction:
“Yes, I stand by my prediction. $250k per bitcoin by the end of 2022 or early 2023. We have had many ups and downs and will continue to, but the global, trusted, decentralized, frictionless, open, transparent bitcoin will become increasingly popular as more and more applications evolve.”
High-profile investors are still loading BTC.
Even though Bitcoin is nowhere near its all-time high of more than $64,000 hit earlier this year, reputable investors and hedge funds continue to buy BTC in the current downturn, indicating a long-term optimistic view for the leading cryptocurrency.
Ray Dalio, the founder of Bridgewater Associates LLP, said on May 24 that he owned Bitcoin. Bitcoin’s most significant risk, according to Dalio, is its success. Dalio also stated that he prefers Bitcoin to government bonds at the time.
A leaked Goldman Sachs research from earlier this year, on the other hand, projected that ether (ETH) would beat Bitcoin in the long run.