Bitcoin (BTC) to Hit $250,000 Before 2023 According Tim Draper, How High Will Bitcoin Go?

Bitcoin News Today – Tim draper Bitcoin price prediction – Billionaire investor Tim Draper believes that Bitcoin price will surge up to $250,000 before 2023. He also thinks the digital asset will be a key mode of transaction in the future. Tim Draper stated in an interview with Yahoo Finance‘s YFi PM that Grit BXNG, a boxing gym Tim Draper invested in, will allow BTC for their transaction. According to Draper, this move would make the Grit BXNG the first gym in America to allow payment through Bitcoin. Tim Draper, says the gym pays instructors $1,000 per hour. The company pays this rate to secure the best trainers from all over the world.

Bitcoin (BTC) Price Today – BTC / USD

Name Price
bitcoin
Bitcoin
$9,982.81-1.76%

Co-founder Tony Robbins explained that “trainers are the new superstars, without a great trainer you’ve got nothing.” He said, “We’re okay paying that kind of money because we’re all about the talent. If you hire the best talent people will come back.”

Tim Draper is a billionaire venture capitalist and Bitcoin bull, he is a well-known crypto analyst. Recently, Draper has been in the media for his recent Bitcoin price prediction, he predicted that will surge up to $250,000 by 2022, he discussed this prediction extensively with Yahoo Finance reporters.

Bitcoin Price Forecast -$12,500 – The Next Subsequent Target for Bitcoin

Bitcoin price forecast – If Bitcoin price can resist above $12,350, then $12,500 is the next target, followed by the anticipated 2019 all-time high. Currently, BTC is consolidating within a constricting proportioned triangle and the digital-asset will require a high volume spike to help it surge above $12,000 and eliminate the $12,350 resistance.

Draper also cited Facebook’s Libra cryptocurrency during the discussion with Yahoo Finance, he suggested that due to Bitcoin’s decentralization, the currency will persist in a diverse group from its competitors. Concerning Bitcoin’s impressive price action since April, Draper said: “You know it’s interesting, it’s consolidated more than I thought it would. I thought there would be many more competitors at this point that would be relevant, but people have consolidated toward Bitcoin because it’s decentralized and that’s why they get flack at Facebook for being a centralized currency.”

Speaking on his $250,000 Bitcoin price prediction, Draper said: “250,000 by 2022, and I’m hedging a little, maybe Q1 2023. It may be Q1 2023, but it will be [$250,000] before that.”

Due to the US-China trade war and other macroeconomic factors, many crypto analysts have tweaked their Bitcoin price forecast, they forecasted an upward trend in the coming Bitcoin price due to their conviction that Bitcoin will rally higher than envisaged.

Bitcoin News Today – Bitcoin and Boxing

Draper, however, is unwavering in his Bitcoin Price forecast, Draper thinks that Bitcoin has other benefits, not just as a store of value but can also be used as a payment still has a strong use case as a payments device. For this reason, he has This is exactly why he encouraged Grit BXNG to allow BTC payments, this way the company would be able to by-pass the expensive payment processing fees linked with credit card payments. Drape further stated, “I’m the first customer he’s had who paid in Bitcoin, and by the way, I was a little reticent to do it because I know what that stuff’s worth.”

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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