Tim Draper, the famous bitcoin investor, and prophet, has declared he is still positive about Bitcoin getting to $250K in 2013. The only problem is that he does not know the exact way that this will happen. He declared this at the Web Summit conference in Lisbon, while in a panel about bitcoin prices.
Tim Draper: 250K Still Possible
Tim Draper, the famous investor, and entrepreneur gave its point of view about several things involving cryptocurrency. In the Web Summit, during a cryptocurrency panel shared with Peter Smith and Garry Tan, he said he was confident about the price prediction he made earlier this year. But, despite that, he admits that the way is not so clear as the destination.
“My prediction for $250,000 by 2022 – maybe 2023 but in that range – is absolutely solid, but I’m not so sure how we’re going to get there”
However, Tim Draper has always been a bullish guy about cryptocurrencies. He has predicted accurately price increases before, and he explained how he does it. He declared that:
“I have a pretty good sense of what’s going on four, five, six ten years from now because that’s my business – to meet with young entrepreneurs who are putting a future into my mind,”
His trust in the blockchain and cryptocurrency ecosystem is unwavering. After all, he has invested millions of dollars in cryptocurrency related initiatives in dozens of startups. But the way to the prediction could be closer than he thinks.
The Way There
Most of the cryptocurrency investors believe in the value of bitcoin. And also that it will raise its value in the long run. But few dare to predict how it will get there. But lately, there seems to be a consensus in that institutional support and adoption will be an important part of the solution.
And the tools for this to work seem to be already in place. Bakkt, the cryptocurrency startup that will trade futures for physical dollars is being recognized as a positive force to achieve cryptocurrency adoption for enterprises and funds. And also the rise of Fidelity’s new custody offer for institutional customers can give an impulse for adoption.
But Draper believes that the solution might lie in placing bitcoin closer to the people. He finally stated:
“Why we aren’t all… creating Bitcoin, putting together a wallet – just go do it so you get the feel for it because it’s so much better than what we have today,”