The serial VC investor, Tim Draper who is known for predicting Bitcoin prices, has just disclosed that Bitcoin would hit $250,000 but it’s status as a safe haven asset could see investors waiting a little longer than planned. He says:
“People have consolidated towards Bitcoin”.
During the interview with Yahoo Finance which held on Aug 9, Draper stated that Bitcoin price will hit $250,000 by the first quarter of 2023. Regarding Bitcoin current trends, there might be a slight delay to the giant price becoming a reality because it’s been consolidated than 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.”
Draper is well known for his Bitcoin price prediction, and now he considers a likely time frame for the prophecy fulfilling itself as somewhere in the next four years.
“$250,000 by 2022, and I’m hedging a little, maybe Q1 2023,” he added.
As Cointelegraph reported, due to the fallout from instability in China spurs which commentators describe as a flight into Bitcoin, the consolidation Tim Draper spoke about seems to be getting support this week.
By 2023, if his prediction manifests, Tim has not mentioned what he will do yet. However, John McAfee has given himself a more intense ultimatum saying that, if BTC/USD does not hit $1 million by the end of 2020, he says he will eat his own penis.
Will Draper be proved wrong this time?