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Tim Draper Silicon Valley venture capital godfather Bitcoin pr

Date:2024-08-01 18:06:10 Channel:Build Read:


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Despite the recent volatility of cryptocurrencies, Tim Draper, the godfather of Silicon Valley venture capital and founder of well-known venture capital firm Draper Associates, still sticks to his prediction for Bitcoin, predicting that it will rise to $250,000 by the end of 2022 at the earliest.

Draper recently accepted an interview with CNBC and pointed out: I think my prediction (Bitcoin $250,000) will be correct. It is reported that Draper first made a prediction of $250,000 for Bitcoin in 2018, when the price of Bitcoin was about $8,000.

Draper believes that as Bitcoin is adopted by more and more people, its price will develop in the direction of his prediction. He said: Give it about a year and a half, retail investors will use Opennode (Bitcoin payment system), and then everyone will accept Bitcoin.

In addition, Draper believes that the limited number of Bitcoins (21 million) is also an advantage. Currently, there are more than 18 million Bitcoins in circulation on the market.

Draper said that Bitcoin is a bit like Microsoft in the software world or Amazon in the e-commerce world, and it is expected to become the center of all financial activities in the next 20 to 30 years.

According to reports, the 63-year-old Zhuop became rich through early investments in companies such as Twitter, Skype, Tesla, and SpaceX, but he would not disclose how much Bitcoin he currently holds or whether he has invested in other cryptocurrencies.

As of press time, Bitcoin fell 1.3% in 24 hours to $40,002.46.

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