Tim Draper, famed Billionaire and venture capitalist has spoken out very recently, according to a support by CCN that suggests Bitcoin will climb to $250,000.00 by 2022.
This comes in the wake of a market downturn that has worried many investors. In typical bullish fashion however, Draper remains confident that Bitcoin will not only surpass $10,000.00, it will surpass $100,000.00, and maybe even $200,000.00.
According to CCN, Draper said:
“Price-wise, we’ll continue to see Bitcoin move higher. I’ve revised my estimate up to $250,000 four years out, so we’ll see Bitcoin trade around the $250,000 mark in 2022.”
“I expect that since cryptocurrencies will increase the velocity of money, the current $86 trillion global market for currency will grow to be about $140 trillion in the next 10 years, and that growth will be in crypto. In fact, I estimate that fiat currencies will actually decrease in use, and that crypto will become as much as $100 trillion of that market. I expect Bitcoin to be about 10% of that market, or $10 trillion. There is a lot of room to grow there.”
You can see the full report for yourself, here-
You heard it here first!
Of course, this is speculation. We must remember that Draper is one of the most famous bulls out there. Of course, his optimism isn’t uninformed, he has evidence and reasoning behind all of his claims, but we can’t let this sort of news get us too excited. Nobody, not even Draper can predict how the rest of the world will pan out, given that there are so many influencing factors against cryptocurrencies, these things that we also need to measure, before we can be make fully justified claims about crypto-prices. In essence, its impossible to be truly right.
So, when deciding to invest, you should do your own research. Indeed, listen to Draper but do not take this as investment advice, instead, you should make your own informed decisions, in doing so you can better your chances of making a wise investment.