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Tim Draper confirms the bullish bitcoin prediction
Tim Draper confirms the bullish bitcoin prediction

Tim Draper confirms the bullish bitcoin prediction

By Marco Cavicchioli - 26 Feb 2020

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A few days ago, Tim Draper confirmed his prediction for the price of bitcoin: according to him, BTC will reach $250,000 in 2022

During an interview with CNBC he explicitly said: 

“I’m still holding to my prediction. I think Bitcoin Bitcoin in 2022 or at the beginning of 2023 will hit $250,000, and that is a big move from where it is here”.

Draper made this prediction back in December 2019, which is about the same time that the price of bitcoin hit its lowest level in the second half of the year. At the time, Draper also said that the bull run could be triggered as early as the end of 2020, after metabolizing the halving in May. 

A prediction in view of the mass adoption of Bitcoin

The point is that, as he revealed in 2018, Draper believes that in the long term everyone will pay using cryptocurrencies and thus it will be the mass adoption that will drive the value upwards. 

In this recent interview he reiterated his view, stating that although it is still very difficult for ordinary people to make use of bitcoin today, once it becomes sufficiently scalable, the choice between paying fees for the use of credit cards, or using a cheaper, open and transparent alternative, will be clear. 

“At some point, people are going to make this switch, and Bitcoin is going to be the big winner”.

In addition, Draper confirmed that he owns a significant amount of BTC, although he did not reveal exactly how much, or what percentage of his assets is invested in cryptocurrencies. 

Finally, with regard to Warren Buffett’s recent statements, the American investor said he was not even remotely surprised by these criticisms, pointing out that 50% of Buffett’s holdings are in traditional banks and insurance companies. 

In this regard, even Anthony Pompliano intervened during an interview with CNN, stating that the Oracle of Omaha is not the best person to listen to when it comes to technological innovations since he is by no means an expert in technology. 

It should also be added that Tim Draper not only owns a lot of bitcoin, but he’s always been very bullish about it. As such, his predictions, regardless of whether they prove to be correct or not, should not be considered impartial.

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 11 thousand subscribers.

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