Draper expressed confidence in the endurance of cryptocurrencies and dismissed the likelihood of Bitcoin fading
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Venture capitalist Tim Draper recently appeared on the On The Ledger Podcast and stood by his bold prediction that Bitcoin’s value will hit $250,000.
“Sure, I’m predicting $250,000 Bitcoin. I thought it would happen before June this year, but that might be extended a bit,” the famous venture capitalist noted.
“We’re on the run now. Maybe it will happen. Pretty sure it’s happening three months before the halving,” he said during the podcast.
During the “Halving” event, which is expected to take place in April 2024, mining rewards will be reduced by 50%.
Despite the uncertainty surrounding the timeline, Draper is confident in Bitcoin’s future, claiming that it is superior to traditional bank and fiat currencies.
Draper, best known as the founder of Draper Associates and an early Bitcoin investor in 2014, remains bullish on the cryptocurrency’s prospects.
While acknowledging potential doomsday scenarios for the cryptocurrency market, he does not foresee a situation where Bitcoin completely disappears. Instead, the venture capitalist suggests that banks and fiat currencies are unlikely to cause a cryptocurrency downtrend.
This belief in the resilience and potential of cryptocurrencies has fueled Draper’s bullish mood.
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