As the market looks healthier than ever, staying just below the $8000 mark and on the crest of a string of good news, billionaire and Bitcoin (BTC) bull Tim Draper is sticking to his prediction that one Bitcoin will be worth $250,000 by 2023.
Draper has made the prediction often and has never budged from his position. Speaking to The Street, Draper was confident as ever,
Sure. Buy the dip, buy the rebound. I stand by my prediction that one bitcoin will be worth $250,000 by 2022. Maybe 2023.
Draper believes that once cryptocurrencies become more intuitive to use, things will take off. He said in an interview with crypto influencer Wendy O,
My reasoning is that all these engineers have to create all the things they are doing to make it really easy for us to spend it and to use it and to move it and to build it into our contracts and all of that. Once that’s all done, that’s a five percent market share [of all the world’s currencies].
Draper’s firm Draper Associates recently invested in decentralized domain name service Unstoppable Domains, a new project that is aiming to bring full control and no censorship to domain names through the use of blockchain technology.