Tim Draper, the renowned venture capitalist and founder of Draper Associates in Silicon Valley, is well-known for his early investments in Skype, Tesla, and other successful ventures. Recently, he made a stunning prediction about Bitcoin, stating that with widespread adoption and a weakening US dollar, Bitcoin could surge to $10 million.
Tim Draper, an early investor in Bitcoin, accurately predicted that Bitcoin would surpass $10,000 in 2017. In a recent interview on the podcast Searching for Mana, he made an astonishing statement, claiming that Bitcoin will rise to unimaginable levels.
Bitcoin just completed its fourth halving at block height 840,000 yesterday morning at 8:09 am. The block reward was reduced from 6.25 BTC to 3.125 BTC. Regarding the halving event, Tim Draper believes that this will cause the price of Bitcoin to skyrocket once again.
Due to the successful launch of the Bitcoin spot ETF in January this year, the price of Bitcoin had already reached a new all-time high before the halving. Unlike previous halving cycles, Tim Draper describes the ETF as an “accelerant” that he did not anticipate.
Prior to the fourth halving, Tim Draper told Cointelegraph that the halving would help push Bitcoin to “reach $250,000 or higher.” It is worth noting that Tim Draper previously predicted that Bitcoin would reach $250,000 by 2022, but this prediction turned out to be completely inaccurate. In response to this, Tim Draper explained on the Searching for Mana podcast that his arrogance had overcome him.
Tim Draper stated that there were several reasons why Bitcoin did not reach $250,000 in 2022. First, regulatory authorities took strict actions against the cryptocurrency market after the pandemic. Second, his prediction that Bitcoin payments would become widespread by 2022 did not materialize.
Related Reports:
– Legendary investor Tim Draper: The world will eventually adopt Bitcoin! He is changing the way currency operates.
– Silicon Valley venture capitalist Tim Draper makes another prediction: Give Bitcoin two more years, and it can rise to $250,000!
– Silicon Valley venture capitalist Tim Draper: European and American banks are going bankrupt one after another, companies should hold Bitcoin!