American venture capital investor Tim Draper still believes in a Bitcoin price prediction he made at Draper University’s blockchain party in mid-April 2018. At the time, Draper said Bitcoin could hit $ 250,000 by 2022, and during an interview with CNBC’s Jade Scipioni this week, Draper reiterated his six-digit Bitcoin price prediction.
Tim Draper is forecasting six-digit Bitcoin prices by next year
Tim Draper, the venture capitalist involved in a wide variety of blockchain and crypto companies, this week discussed its Bitcoin Price Prediction (BTC) with CNBC.
Draper is known in the crypto community for having founded a number of companies that operate in the industry. He has also founded organizations such as Draper Fisher Jurvetson (DFJ), Draper University, Draper Venture Network, Draper Associates, and Draper Goren Holm.
Draper is famous for buying thousands of Bitcoin (BTC) in July 2014 from the US Marshals Service auction which sold BTC from the Silk Road marketplace. At the time, Draper predicted that BTC would hit $ 10,000 per coin and that prediction was met. This led people to view Draper as an oracle, and he was pushed for a new prediction when BTC got close to the $ 20,000 zone in 2017.
After many reporters asked Draper about his next Bitcoin price prediction, he finally replied on Friday April 13th, 2018. “Serious wind (of change) at our blockchain party last night,” Draper told his followers on Twitter. “I forecast $ 250,000 by 2022,” added Draper. Since then, Draper has stepped out of the spotlight on predictions and many other investors have made their own Bitcoin price predictions for the past three years.
Now that BTC has hit a new all-time high of over USD 64,000 per unit, Draper is once again behind its forecast of USD 250,000. While speaking with CNBC’s Jade Scipioni on “CNBC Make It,” Draper said:
I think I’ll be right here. I’m either right or wrong [but] I’m pretty sure it’s going in that direction.
Draper speaks about Dogecoin and Elon Musk’s criticism of Bitcoin’s energy consumption
Draper then stated that he believes traders will flock to support BTC over the next few years. “Give it about a year and a half and the retailers will all be on Opennode, so everyone will accept Bitcoin,” Draper said. “Then I think beyond that [bitcoin] continues to rise because there are only 21 million of them, ”added the venture capitalist.
The board also touched on Dogecoin (DOGE) during their interview, stating that there has to be something that makes the public like the dog mark.
“There has to be something about Dogecoin because it makes us all smile, but no engineers are working on it,” said Draper. “Doge designed to improve the efficiency of system transactions. Potentially promising. I’m more focused on those where people dedicate their lives to improving the currency. “
Draper told CNBC that he believes Bitcoin will be the center of global financial activity for a long time, describing BTC as one of the world’s technology giants. “[Bitcoin] is a bit like Microsoft [in] the software world or Amazon in the e-commerce world, ”noted Draper.
Before Draper made his prediction, the venture capitalist also spoke about Elon Musk and Tesla’s criticism of Bitcoin’s energy consumption. He praised Musk for what he had achieved before, but when it comes to understanding Bitcoin’s energy consumption, Draper thinks he’s wrong.
“Elon is first and foremost one of the most brilliant men in the world … perhaps the most brilliant, [but] he got it wrong, ”said Draper.
What do you think of Tim Draper’s Bitcoin price prediction for 2022? Let us know what you think on this matter in the comments below.
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