Billionaire venture capitalist Tim Draper believes Bitcoin is hurtling toward a staggering $250,000 Bitcoin (BTC) price tag.
In a new exchange with the Observer, Draper says Bitcoin is at the start of a parabolic rally that will see the top crypto asset generate gains of more than 900% in less than two years.
In December 2022, Draper predicted that Bitcoin will hit his target in six months following the high-profile implosion of crypto exchange FTX, saying that investors will likely seek refuge in high quality and decentralized digital assets like Bitcoin.
Even if Bitcoin fails to go on a meteoric ascent by June this year, Draper says that the timeline could be extended to the end of next year.
“I am almost 100 percent sure I will be right in 18 months.”
The venture capitalist who made early investments in Coinbase, Hotmail, Skype, Tesla and Twitter also says that the collapse of FTX last year should be a wake up call to investors who are looking to accumulate crypto assets that are controlled by a centralized entity.
“Decentralized crypto like Bitcoin, Tezos, Bitcoin Cash, Aragon [and] Cardano are way better than centralized crypto. I don’t know why anyone is still holding centralized crypto, unless it has a specific purpose like XRP or ETH.
You would think that FTX/FTT would have taught that lesson.”
At time of writing, Bitcoin is trading for $24,705, up 1.68% in the last 24 hours.
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