Tim Draper Reaffirms Bitcoin’s Value Will See $250,000 BTC/USD By Early 2023
Renowned American Venture Capitalist, Tim Draper has reiterated his claim that Bitcoin’s price will hit $250k by 2023.
The billionaire investor and founder of Draper Associates was on Yahoo Finance to announce the launch of Grit BXNG and spoke about Bitcoin price in the near future.
While at Yahoo Finance, Draper announced that he was investing in a boxing gym known as Grit BXNG and claimed that it will be the first-ever gym to accept bitcoin. He also highlighted that the company would be able to avoid the payment processing fees associated with processing credit card payments.
During the interview Draper extended the timeline of his Bitcoin call a bit to 2023. The billionaire investor drummed up support for his prediction saying that Bitcoin price will hit $250,000 by 2023. He however intimated that due to the current trends in the market, there might be a slight delay to the king coin’s price tag becoming a reality.
According to the bigtime Bitcoin bull, Bitcoin has consolidated a lot more than he initially expected.
“I thought there would be many more competitors at this point that were really relevant, but people have consolidated towards Bitcoin because it’s decentralized.”
Tim has been keeping up with the market trends, and he has invested millions in bitcoins in the past. If the cryptocurrency decides to appreciate and meet his price target, then Grit BXNG’s move of accepting bitcoin as a payment option will prove out to be another brilliant move.
If Draper’s prediction does not come to fruition, the mogul has not said what he will do. It remains to be seen whether he will announce a radical decision like John McAfee who has said that if Bitcoin fails to hit $1 million by 2020 he will eat his own penis.
Do you think Bitcoin will hit $250k by 2023? Share your thoughts with us in the comments section.