Tim Draper Stands By $250k Bitcoin (BTC) Price Prediction

As Smartereum reported yesterday, Tim Draper, a popular crypto proponent, and venture capitalist claimed that the value of crypto assets would rise to $80 trillion within the next 15 years. Draper spoke on stage at the cryptocurrency week event in Singapore. He claimed that digital currencies and their technology with disrupt the traditional markets.

The interview with TheStreet

In an interview with TheStreet, Draper made a bold prediction, stood by his bullish sentiment, and explained that BTC could test $250,000 a piece in just four years’ time.

The interview was conducted at the Crypto Finance Conference in California. And he was queried about is experience with crypto assets. Draper noted that he was an angel investor in the past for Skype, Tesla, and other top modern technology firms. He joined the crypto industry before the Mt.Gox fiasco.

Bitcoin (BTC) Price Today – BTC / USD

Name Price24H (%)
Bitcoin (BTC)
$3,364.05
-2.24%

He invested a small amount of fiat money into BTC and began to participate more by partaking in the Bitcoin auction if the U.S Marshall. He claims that he bought more than 40,000 BTC at the time that cost him a fortune.

He explained that his move was a risky investment and conveyed his thoughts on the security offered by a decentralized technology as well as cryptos and their possible uses.

BTC does not conserve energy as Draper noted and the secure Blockchain that backs the nascent cryptocurrency has increased its value. He spoke on the security extensively, noting that the system cannot be compromised and doesn’t believe it can be. Draper went on to issue a statement about banks and bitcoin, he said,

“I think that having that consensus brings an extra boost to confidence. In fact, I am more confident in my Bitcoin than I am in the U.S. dollars in Wells Fargo”.

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