Tim Draper: Everyone Will Accept Bitcoin – Price To Reach $250K in 2022
American billionaire Tim Draper has predicted that bitcoin’s price would hit $250K by the end of 2022. According to Draper BTC would be the core of all financial activities for the next 20-30 years.
Tim Draper – an American venture capital investor – shared with CNBC his bullish view on Bitcoin’s future valuation. The investor forecasted that regardless the volatility in the crypto market, the number one digital asset would hit $250,000 by the end of next year.
I addition the trader said many large companies would follow the example of Microsoft, Starbucks, PayPal, Home Depot and accept bitcoin as a means of payment:
”Give it about a year and a half and retailers will all be on Opennode [bitcoin payment processor], so everybody will accept bitcoin.”
Draper pointed out that only 21 million bitcoins can exist in circulation and this is another reason that will drive up its fiat value. The investor predicted that Bitcoin could turn into the world’s main financial instrument, and it has the potential to become as dominant as giants like Microsoft and Amazon.
Draper is a bitcoin HODLer, but has not revealed how much he owns or whether he has located some of his funds in other cryptocurrencies.
Additionally, the billionaire noted that Elon Musk is a ”brilliant man” but didn’t agree with his opinion on Dogecoin. Draper joined many other critics of the meme coin who think its only quality is to bring joy to the crypto community:
”There must be something to Dogecoin because it makes us all smile but no engineers are working on it.”
Draper Said It Again
It seems like Draper stands behind his words as he initially outlined his price forecast at the beginning of 2020. With the only difference that back then, he claimed that BTC’s value would reach $250,000 in early 2023, which now he is saying would happen 2022.
Back then, he said that the stock market is not that emerging anymore and intended to allocate his portfolio to the crypto market instead. BTC will be the big player there, and even though it still has a long way to go, it will attract the attention of the masses due to its positive features:
”Bitcoin will be the currency of choice. Bitcoin is not as easy to move around, but eventually, it will be. Then you will have a choice, and you will say: “hey, do I want to pay the banks 2.5% to 4% every time I swipe my credit card, or do I want a currency that’s frictionless, open, transparent, global, and not tied to any political force.”
