Tim Draper, an American venture capitalist and billionaire, has recently doubled down on his bullish Bitcoin prediction, stating that his $250,000 per BTC prediction will happen in mid-2023.
While speaking at this year’s Web Summit held in Lisbon a few days ago, Draper said, “By mid-2023, I’m expecting to see Bitcoin hit $250,000.”
Back in May, the billionaire investor reechoed his stance about the future price of Bitcoin (BTC) in a podcast interview with Scott Melker. He said he’s optimistic that the flagship cryptocurrency will reach a quarter of a million dollars by the end of 2022 or early 2023.
At the Web Summit 2022, Draper added that he expects an increase in Bitcoin adoption, stating that once BTC becomes a means for paying for goods, such as food, clothing, and shelter, there will be no need to hold on to fiat currency.
He also noted that any country that chooses to restrict the use of Bitcoin (BTC) in order to control all currencies, will suffer.
He said, “Whenever there is a new technology, and if the government embraces it, let its people experiment with it, those people will often do great things… we’re going through that right now, it’s going to be interesting.”
It’s worth noting that Tim Draper is one of the early Bitcoin believers. He claimed that he first bought Bitcoin in 2011 on Mt. Gox, but lost everything to the collapse of the crypto exchange.
Despite the loss, Draper kept believing in the future prospect of Bitcoin (BTC). In 2014 when the digital currency was trading at $472, he won a US Marshals Service auction for about 30,000 BTC.