Tim Draper Sticks with His $250K Bitcoin Prediction

By Abhimanyu Krishnan | News | 28 Apr 2020

Billionaire venture capitalist Tim Draper continues to believe that Bitcoin will reach $250,000 by early 2023. Draper made the statement at the Virtual Blockchain Week conference that is being held from April 26 to May 2. 

Saying that he’s “very confident about it”, Draper has never wavered in his prediction about Bitcoin’s price,

That's my prediction. Sticking with it. I'm very confident that that is going to happen. That’s happening. It's kind of funny.

Draper also believes that mass adoption will accompany this price surge. This, along with the stimulus packages released by many governments (a belief shared by Changpeng Zhao of Binance and which Mark Cuban says could help Bitcoin), will help Bitcoin rally. Draper remarks,

All of the sudden, the retailers say, ‘Oh, you mean I don't have to pay 2.5-4 percent to the banks every time somebody swipes a credit card?’ 

The Virtual Blockchain Week sees numerous high-profile individuals from the blockchain and crypto world discussing a variety of subjects, such as smart contracts, blockchain implementation for philanthropy, institutional grade trading and enterprise applications, among many other subjects. Speakers include Charlie Shrem, Caitlin Long, Don Tapscott, Justin Sun and Roger Ver. Virtual blockchain conferences have become the norm in this time of global lockdowns, bringing some degree of community and updates digitally.

In an interview with InnMind, Draper himself has said that the COVID-19 pandemic could be the tipping point for Bitcoin, something that a recent Bloomberg report also highlighted, saying that Bitcoin is passing the test for maturation and resultant growth could be spurred by the pandemic.

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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