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Billionaire Tim Draper continues to expect bitcoin to surge to $250,000

 


Billionaire venture capitalist Tim Draper still believes his lofty prediction of a $250,000 Bitcoin price later this year, driven by women. Yes, you read it right.


Women will push BTC to $250,000: Draper

Tim Draper told veteran crypto trader Scott Melker that he is sticking by his bullish $250,000 bitcoin price target for this year. Despite the recent downturn, the early bitcoin investor is undeterred in his enthusiastic outlook for the number one cryptocurrency.


He stated that more women will start using the cryptocurrency and this will significantly broaden the asset's user base. “All of a sudden, all women will have bitcoin wallets, and they will buy things with bitcoin, ” Draper said.


Considering that over 50% of wealth in the United States is managed by women, it's not too optimistic when the tech investor says the female faction could help push BTC price to unprecedented heights to drive.


Draper also pointed out that retailers currently operating on low profit margins haven't yet realized that they can save big by accepting BTC instead of credit cards.

Will Draper's assessment prove wrong?

It's worth noting that Draper isn't strictly limited to the 2022 timeline, but he believes the price target could also be reached in early 2023. Additionally, this isn't the first time Draper has made bold claims about Bitcoin.


Draper has repeatedly reiterated that the price of Bitcoin will reach $250,000 by 2022. And in 2015, serial blockchain investor predicted that the price of the benchmark cryptocurrency would hit $10,000 by the end of 2017 -- a prediction that has come true.


At a 2014 auction, he spent $18.5 million on 30,000 bitcoins seized by US Marshals. At today's market prices, Draper's stake is now worth approximately $870 million. That's not a bad return for an eight-year investment.


Meanwhile, Draper has no doubt that blockchain technology will revolutionize the world. He also believes that decentralized finance and non-fungible tokens are the next big things in the cryptosphere.

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