Billionaire Tim Draper Predicts BTC Will Attain $250,000 Price Mark with 5% Market Share By 2023
Tech Billionaire Tim Draper foresees the price of Bitcoin at $250,000 and told Fox Business recently on the 10th of May that the cryptocurrency will take 5 percent of the entire market share by 2023.
It is necessary to know that despite the dip on Bitcoin, Draper remains certain that his predictions on the largest cryptocurrency by market capitalization will be at its full potential by 2023.
During his interview at the Salt Conference in Las Vegas, Draper stated that Bitcoin will continue to gain much traction. Drapper stated in the conference:
“It’s going to keep going because, I’m a believer than in four years, something like that, bitcoin will be about a 5% market share of the Earth.” He also added that “It’s a better currency, it’s decentralized, open — it’s transparent; everybody knows what happens on the blockchain.”
Draper has been a strong advocate of Bitcoin. We shouldn’t forget that he spoke to The Street at the 2018 Crypto Finance Conference in Switzerland. He said:
“This is going to be so big, so if you see a dip [in prices], jump in, Maybe it will dip further, but boy, I made that prediction and I’m sticking to it. $250,000 by 2022 for bitcoin.”
Bitcoin experienced a massive decrease last year and even went down by more than 50 percent. At the moment, the ‘King Coin’ is somewhat bullish after getting pass the $6,000 price mark. Nevertheless, the cryptocurrency profile is increasing even higher.
Drapper also added that he predicted running a company that is dependent on Bitcoin, where transactions of the cryptocurrency can be used.
The Tech mogul continued: “I eventually want to have a fund where I take in bitcoin and I fund everybody in bitcoin and they pay their employees and suppliers in bitcoin and then I pay my investors in bitcoin. Because I would then require no accounting, no legal, no bookkeeping, no custody — it would all be done.”
It is also important to note that Draper has a great track record of foreseeing the price of Bitcoin – it’s very difficult to dismiss his statements at this point in time.
Back in 2015, he predicted that the price of Bitcoin would go up and attain a price tag of $10,000 by the end of 2017. On Dec. 31st, 2017, Bitcoin attains a price tag above $13,000.
During that time, he told the public that, there are plenty of hacks around the cryptocurrency world, but the Bitcoin blockchain has never been hacked. Draper also emphasized at that time that he is more confident in his bitcoin than in his U.S. dollars in Wells Fargo.
After making his predictions that Bitcoin will soar than ever in 2023, he also told the public that the internet came in the same way and then it crashed down. A big move came on the internet and has made it much bigger again; the same thing will happen on Bitcoin too.