Where Does Bitcoin Bull Tim Draper’s $250,000 BTC Price Prediction By 2022 Origins Stem From?
Tim Draper’s BTC Price Prediction May Be Wrong
Venture capital investor Tim Draper participated in the Web Summit Conference and there, he predicted that Bitcoin would reach $250,000 by 2022. He stated,
“Believe it, it’s going to happen – they’re going to think you’re crazy but believe it. It’s happening. It’s going to be awesome!”
There are those who have been arguing the contrary – that it will take time for Bitcoin to become bullish.
Draper was also asked during the conference whether he believe that bitcoin will experience a 40-times return in the coming years. Draper responded,
“Yes. We are talking about five percent market share to get to $250,000. That seems like a drop in the bucket and all we need to really do is make it so that Bitcoin can be used by Starbucks coffee, and all of a sudden the world just opens up and then they say, ‘I’ve got this choice.’ Do I want a currency that I can take from country to country, or do I want one that sticks me in the country or one geographic area, and I can’t use it anywhere else?”
When asked about fiat currencies and the need for them, he stated that he does not trust currencies that are “determined by some weird political party or another?”
“If we combine Bitcoin, blockchain with smart contracts and artificial intelligence, we could create the perfect bureaucracy.”
Draper also predicted that the market capitalization of total cryptocurrencies will reach $80 trillion in 15 years. He stated,
“Cryptocurrency will go after trillion-dollar markets. These are finance, healthcare and insurance, banking and investment banking, and governments.”