- Billionaire venture capitalist Tim Draper says the bitcoin price will skyrocket to $250,000 soon after the May 2020 ‘halving’ event.
- As astounding as that sounds, Draper’s projections are in line with bitcoin’s historical trend.
- Draper correctly predicted the ‘crypto winter’ bear market of 2018-2019 in September 2018. He’s made over $200M from BTC so far.
When Tim Draper talks about good tech investments with enormous profit potential, markets listen. Some of the Silicon Valley venture capitalist’s winning picks include Baidu, Skype, Tesla, SpaceX, and Twitch.
In 2014, Draper made a massive bet on bitcoin. He spent just shy of $19 million for 30,000 BTC sold by U.S. authorities at auction.
Outbidding everyone else, it looked like Draper paid a premium for the coin then. But today that 30,000 BTC is worth over $200 million with the bitcoin price above $7,000.
He thinks it’ll be worth $7.5 billion in two years at the $250,000 price point.
“It looks like it will be something like six months to a year after the halvening that we will cross $250,000 per bitcoin…it is pretty likely we are going to hit $250,000 by the end of 2022 or early 2023.” – @TimDraper.
Full interview: https://t.co/EBS4YpwKxO pic.twitter.com/wylZD9yHOJ
— BLOCKTV (@BLOCKTVnews) December 19, 2019
