Tim Draper, a tech investor, recently addressed his oft-repeated prediction that Bitcoin will reach $250,000 by 2023.
While the Bitcoin hasn’t yet reached that level, he remains certain that this forecast will come true before the approaching halvening.
The billionaire venture investor and cryptocurrency enthusiast disclosed that he was wearing a T-shirt with the slogan “250K by 2022,” demonstrating his belief in digital currency.
Halvening is an event that rewards Bitcoin miners with less coins than before, increasing the scarcity of the cryptocurrency. Because of the expected price increase, such an occurrence often motivates additional people to enter the market.
Draper has long been a fan of Bitcoin. He has long been a supporter of decentralized digital currencies and was one of the first Bitcoin investors. In 2014, he purchased approximately 30,000 bitcoins at a US Marshals Service auction that had been seized from Silk Road, the underground black market website created by Ross Ulbricht.
Draper believes that Bitcoin can help individuals gain financial independence by introducing ‘unbanked’ people into the global economy.
According to U.Today, the venture capitalist has declared numerous times that women will be able to drive Bitcoin past the 2023 level.
The venture capitalist is well-known for his early-stage investments in companies such as Skype and Tesla. He has invested in over 200 firms that are developing revolutionary technologies spanning from alternative energy to healthcare, finance, and others.