Renowned venture capitalist, Tim Draper during a recent interview has doubled down on his long-standing bitcoin prediction of $250k. This time, Draper believes this price altitude is achievable within a few years from now.
Draper On His $250k BTC Prediction
During an interview session with CNBC, popular crypto frontier and bitcoin evangelist, Tim Draper has weighed in on the $250k BTC Prediction.
In the most controversial discussion ongoing in the crypto space lately, Draper has called out a 25x increase in the price of bitcoin by 2020. Draper says he believes there is a shift towards the decentralization of money, security, privacy, and cost of spending.
According to Draper, the world is getting sick of having to pay 2.2-4% of their hard-earned resources to banks and other financial institutions per transaction.
“I’m still holding to my prediction. I think Bitcoin Bitcoin in 2022 or at the beginning of 2023 will hit $250,000, and that is a big move from where it is here.”
People Will Eventually Make The Switch To Cryptocurrencies
Tim Draper explained that a wave of people are fast coming to the realization that cryptocurrencies are the future of money. And that though they are not as easy to carry around, eventually, they will.
According to him, the technology offers more ease of use and functionalities than the current fiat system. To start with, transactions would become cheaper, faster and most importantly, private.
“At some point, people are going to make this switch, and Bitcoin is going to be the big winner.”
Draper Was Once Correct, He Can Be Again!
In the latest CNBC interview, he did not explicitly state what percentage of his $1 bln net worth is in Bitcoin, but he did say that he owns “a lot, a lot” of it.
As Warren Buffet Manages His Wealth With The Current Financial Framework, He Won’t Like Cryptos
Further during talk about $250K BTC Prediction, Tim Draper also weighs in on Warren Buffet’s opinion on bitcoin and cryptocurrencies. He says 50% of Buffet’s wealth is in banks and insurance companies and sure won’t take delight in an alternative system.
“They are not going to do well in this new decentralized economy. Of course, he’s not gonna like it”
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