Billionaire investor, Tim Draper, who has plenty of good things to say about bitcoin (BTC) and the general direction of the space, is sticking to his optimistic predictions on the price of bitcoin, saying that he expects the price of bitcoin to reach $250,000 by 2023, a timeframe which is more or less the same when compared to his earlier one.
Draper was speaking at the Salt Conference in Las Vegas, he said,
It’s going to keep going because, I’m a believer than in four years, something like that, bitcoin will be about a 5% market share of the Earth…It’s a better currency, it’s decentralized, open — it’s transparent; everybody knows what happens on the blockchain.
That is perhaps not as grand as John McAfee’s claim that bitcoin would hit $1 million by 2020, but nonetheless, it is a bold prediction from someone who has invested in the likes of Skype. Draper has made several appearances at events where he has extolled the benefits of the digital asset class, and he sees bitcoin as digital gold, like so many others.
Draper also said that payments in bitcoin would make life easier for everyone,
I eventually want to have a fund where I take in bitcoin and I fund everybody in bitcoin and they pay their employees and suppliers in bitcoin and then I pay my investors in bitcoin…Because I would then require no accounting, no legal, no bookkeeping, no custody — it would all be done.
Draper first made the prediction of $250,000 in November 2018 and the appearance of a “crypto winter” does not seem to bother him.
Bitcoin recently passed the $7,000 mark, and investors are tantalized about the prospects of a long bull run being just around the corner. At the time of publishing, bitcoin still sits above $7,000.
Is that the same Time Draper who invested in Theranos and defended it long after it was exposed as a scam?