Timothy Draper, 59, founder of the eponymous Draper Associates organization and Draper University, has outspoken on the future of cryptocurrencies once again. In a new statement, he expects Bitcoin’s price to reach $250,000 by 2022.
This is an extremely optimistic statement considering that most experts view Bitcoin and cryptocurrency craze as an economic bubble. In 2017, Tim Draper has also predicted that in 5 years, cryptocurrency would replace fiat money. Other optimists seem to prefer to stay more careful, and in a notable example, Mike Novogratz decided to refrain from further prognoses. The activity of Bitcoin bulls usually rises right after the price starts to grow, same can be said about the increase of pessimism of experts among the price downfall observers have witnessed since January.
Brian Kelly who previously made one of the most time-tested investment advices has already reacted to Tim Draper’s hypothesis about the future of the most famous cryptocurrency. He tells the following: while it did sound crazy, the 3000% increase is possible in the predicted time period because we all have already seen the 4000% growth just in two years. One could only wish the scenario repeats again.
Image courtesy of Freebird Games
Stay tuned to the latest news, articles and events from digital economy with Bitnewstoday newsletter.
You have been successfully subscribed to our newsletter!