It has been just revealed the fact that the billionaire Tim Draper just doubled down on the $250k Bitcoin prediction. Check out the latest reports about this below.
Tim Draper doubles down on Bitcoin prediction
In an interview with Bloomberg, venture capitalist Tim Draper has reiterated his prediction that Bitcoin (BTC) will reach $250,000. However, he has revised his timeline to 2025, acknowledging that he underestimated the US government’s crackdown on cryptocurrencies and its impact on Bitcoin’s market cap growth.
Despite the delay, Draper remains optimistic about Bitcoin’s future, with his prediction representing a potential increase of over 724% from its current value of $30,322.
“When I predicted it, Bitcoin was at $4,000. So, it’s gone to $30,000 in that time. And I wasn’t really expecting the US bureaucracy to be this aggressive. And I thought that maybe they would be recognizing that they’ve got to compete with the rest of the world.”
He continued and said the following:
“They’ve got to provide a platform from which entrepreneurs can flourish. And by having this regulation by enforcement that the SEC (U.S. Securities and Exchange Commission) has been professing and driving is really driving all the great entrepreneurs out and I think that that has hurt the Bitcoin price.”
Bitcoin adoption
According to Draper, wider adoption of Bitcoin will happen despite the government crackdown since BTC has many benefits over traditional finance systems.
“But Bitcoin is here to stay. It’s a great currency. It’s a great way to operate. I can’t wait until I can raise a fund all in Bitcoin. Invest it all in Bitcoin. Have my portfolio companies all pay their employees and suppliers all in Bitcoin and have taxes all paid in Bitcoin and have the waterfall all fall into people’s Bitcoin wallets.”
He also said this:
“Because then there’s no accounting. There’s no auditing. There’s no bookkeeping. It’s all done on the blockchain and it’s all honest and it’s all straight. And I think that’s going to bring society to an anthropological leap forward. It’s going to be an amazing time. And I can’t wait for it.”
