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Venture Capitalist Reiterates $250,000 Price Target for Bitcoin

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As outrageous as it may sound, venture capitalist Tim Draper still believes Bitcoin could run to $250,000 over the next four years.

That’s after he predicted $250,000 by April 2018. “Believe it, it’s going to happen – they’re going to think you’re crazy but believe it, it’s happening, it’s going to be awesome,” Draper at that time, as quoted by Coin Telegraph.

40 Times Return for Bitcoin in Four Years

When asked at a recent conference whether he still believes Bitcoin can reach that target, he responded:

“Yes. We are talking about five percent market share to get to $250,000. That seems like a drop in a bucket and all we need to really do is make it so that Bitcoin can be used to buy Starbucks coffee, and all of a sudden, the world just opens up and then they say ‘I’ve got this choice.’ Do I want a currency that I can take from country to country or do I want one that sticks me in one country or one geographic area and I can’t use it anywhere else?”

In addition, Bitcoin, says Draper, lacks the characteristics of fiat money.

“There’s $86 trillion of political currency. They call it ‘fiat’ currency, but it’s political. And I believe that that currency will slowly be eaten up by a better currency which is global, decentralized, and frictionless. It’s just a better currency. Bitcoin’s a better currency,” he says.

As Bittpress noted in May 2018

Tim Draper says Bitcoin is not some kind of fad and is “the future of the world.”

“There are many many reasons and many many uses.[….] This is going to be a major change in the future of the world.[….]It’s a major breakthrough and I can’t wait for us to be sort of one world with our currencies as opposed to having it tied to some political influence or another, or some government just decides to inflate or decides that they’re just going to take a bunch of currency.[….] This is a great opportunity for the people to run their businesses unfettered by political whims,” he noted.

While $250,000 may seem an outrageous prediction, keep a close eye on it.

 

 

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