American venture capitalist Tim Draper still believes in the Bitcoin price prediction he made at the Draper University Blockchain Party in mid-April 2018. At the time, Draper stated that he thought Bitcoin might reach $250,000 by 2022, and in an interview with CNBC’s Jade Scipioni this week, Draper reiterated his six-digit Bitcoin price forecast.
Tim Draper expects Bitcoin price to reach six figures next year
Venture capitalist Tim Draper discussed with CNBC this week his predictions for the price of Bitcoin (BTC).
Draper is well known in the crypto community because he founded many companies that work in the industry. He also founded organizations such as Draper Fisher Jurvetson (DFJ), Draper University, Draper Venture Network, Draper Associates, and Draper Goren Holm.
Draper is known for purchasing thousands of Bitcoin (BTC) from the U.S. Marshals Agency auction in July 2014, which sold BTC from the Silk Road market. At that time, Draper predicted that BTC would reach $10,000 per coin, and this prediction was fulfilled. This made people start to regard Draper as an oracle, and when BTC approached the $20,000 area in 2017, he was forced to make new predictions.
After many reporters asked Draper about his next Bitcoin price prediction, he finally answered on Friday, April 13, 2018. “There was a (change) wind at our blockchain (chain) party last night,” Draper explained to his followers on Twitter. “I predict it will reach $250,000 by 2022,” Draper added. Since then, in terms of forecasts, Draper has withdrawn from the spotlight, and many other investors have also given their own Bitcoin price forecasts in the past three years.
Now that BTC has hit an all-time high of more than $64,000 per unit, Draper once again supports his forecast of $250,000. Draper said in a conversation with CNBC’s Jade Scipioni on the “CNBC Make It” program:
I think I will be right.I’m either really right or really wrong [but] I’m pretty sure it is moving in that direction.
Draper talks about Dogecoin and Elon Musk’s criticism of Bitcoin’s energy use
Draper then explained that he believes that merchants will flock to support BTC in the next few years. “Give it about a year and a half, and retailers will be on Opennode, so everyone will accept Bitcoin,” Draper emphasized. “So apart from that, I think [bitcoin] Continue to grow because there are only 21 million of them,” the venture capitalist added.
The executive also talked about Dogecoin (DOGE) in the interview and explained that there must be something to make the public like Dogecoin.
Draper said: “Dogecoin must have something, because it makes us all laugh, but no engineer is doing it.” “Doge devs improves system transaction efficiency. It is very promising. I tend to focus on people’s efforts. To improve the currency problems.”
Draper told CNBC that he believes that Bitcoin will become the center of global financial activity for a long time, and described BTC as one of the world’s technology giants. “[Bitcoin] Kind of like Microsoft [in] The Amazon in the software world or the e-commerce world,” Draper commented.
In addition, before Draper made his prediction, the venture capitalist spoke of Elon Musk and Tesla’s criticism of Bitcoin’s energy use. He praised Musk’s previous achievements, but Draper thought he was wrong in understanding Bitcoin’s energy consumption.
“First of all, Elon is one of the smartest people in the world…maybe the smartest person, [but] He got it wrong,” Draper said.
What do you think of Tim Draper’s Bitcoin price prediction for 2022? Please tell us your thoughts on this topic in the comments section below.
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