Who will be more accurate? Tim Draper and Charlie Shrem's bitcoin predictions are definitely worth a headline as both of them have been pioneering figures since the early days and have believed in the technology and economics backing bitcoin's blockchain.
Tim Draper: Bitcoin Could Reach $250,000 Dollars by 2022
— Tim Draper (@TimDraper) April 27, 2018
Charlie Shrem: Bitcoin All Time Lows are NOW, May 2018
May 2018 will be the last time we ever see #bitcoin under $10,000
— Charlie Shrem (@CharlieShrem) May 3, 2018
Bitcoin has captured the attention of many investors all over the world. But did the famous virtual currency touch its peak? According to the recognized entrepreneur, Tim Draper, that’s far from happening. And everyone knows Bitcoin Foundation founder Charlie Shrem, who has now broadcasted his beliefs that 4 figure bitcoin prices will be no more come June 2018 and beyond.
Bitcoin Could Reach $250,000 by 2022 & Never Go Below $10,000
Back in 2014 he said that Bitcoin was going to surge up to $10,000 dollars in 2017, and his prediction was not correct. Bitcoin not only passed $10,000 but it went up to $20,000 in December 2017. Even though the crypto-winter has since been thawed out, bitcoin has gained over 30% against the USD in April and went from Q1 lows of $6,500 to pushing the $10,000 barrier once again. If Charlie were a prophet, would that make you buy more bitcoin with everything you had?
Apparently, and according to what bitcoin-advocate Tim Draper adds, Bitcoin could be traded around $250,000 dollars in the year 2022. At the same time, he explained during an interview with Forbes that the total market capitalization of fiat currencies will fall from $80 trillion to $30 trillion. Moreover, the cryptocurrency market value will rise up to $100 trillion dollars. Combine both of these influential personalities in the crypto universe and you have the makings of some hot soundbites to discuss no matter what crypto circle you find yourself involved with.
Bitcoin is currently being traded around $9,800 dollars and its market capitalization is $166 billion dollars.
During the interview, Mr. Draper explained:
“Now I have an amazingly big, huge market to go after and I predicted that maybe Bitcoin would end up with maybe a 20% market share and I sketched those out and so I think the asymptote is somewhere around $130 trillion but only maybe $100 billion will be crypto and then maybe %20 of that might be Bitcoin… well it’s going to take 10 or 15 years to get that asymptote, so I’m thinking that along the way we are going to have Bitcoin at $250,000 by 2022.”
During the interview he also advised cryptocurrency beginners to buy some amounts of Bitcoin and put them on a hardware wallet. He went on to say Bitcoin will be bigger than Skype, Hotmail and Tesla combined and even bigger than the Internet itself.
Here are a few more Tim Draper tidbits to digest as the innovation and insight continues:
This is bigger than internet. It’s bigger than the Iron Age, the Renaissance. It’s bigger than the Industrial Revolution,” Said draper at Intelligence Squared U.S. debate presented in partnership. This affects the entire world and it’s going to be affected in a faster and more prevalent way than you ever imagined.
In five years you are going to try to go buy coffee with fiat currency and they are going to laugh at you because you’re not using crypto. I believe that there will be a point at which you will no longer really want any of the fiat currency.
and look no further for yet another bullish remark on bitcoin's bright future:
“Wait a second, why am I paying for all these big bank buildings and all those employees when I can actually control my own money… It’s right there, it’s in my hands,” he said.