Tim Draper maintains prediction that Bitcoin will reach $ 250,000 ── Time is delayed to 2025 | CoinDesk JAPAN | Coin Desk Japan

Billionaire investor and venture capitalist Tim Draper announced today that Bitcoin (BTC) will reach $250,000 in June 2023. He admitted that he had been wrong in his prediction that it would be reached, but said he maintained his prediction and believed it would probably happen in 2025.

A blow from the response of the US authorities

“I never expected the US bureaucracy to be so aggressive, and they will come to realize that they too have to compete with the world,” Draper said in an interview on Bloomberg Television. I was thinking,” he explained.

Furthermore, recent enforcement actions taken by the U.S. Securities and Exchange Commission (SEC) against cryptocurrency companies such as major cryptocurrency exchanges Coinbase and Binance have forced entrepreneurs into America. , which he believes is hurting the price of Bitcoin as a result. But that doesn’t change the value of Bitcoin and its underlying technology, he said.

Emphasis on the potential of Bitcoin

“It’s a great system, it’s a great currency, it’s a great way to operate,” he said of Bitcoin. I can’t wait to see our employees and suppliers paid all in Bitcoin, all our taxes paid in Bitcoin, and all earnings going into people’s Bitcoin wallets.”

He has been an early proponent of crypto assets. In a 2014 interview, he said he realized the importance of bitcoin in 2013 after the Mt. Gox collapse and said he bought 30,000 BTC after the incident.^.Since then, he has invested heavily in cryptocurrencies and related projects, leading multiple funding rounds for startups.

$250,000 Prediction Remains in Bear Market

For the first time in 2018, he made a bold prediction that Bitcoin will hit $250,000 in June 2023, and he has stuck to that prediction during the recent bear market.

On June 30, he took to Twitter to admit that Bitcoin had only hit $30,000 at the time, and that his predictions were off. “I think we’ll have to wait a little longer (maybe two years for him), but the engineers are working hard,” he said.

｜Translation: CoinDeskJAPAN
｜Editing: Rinan Hayashi
｜Image: Shutterstock
｜Original: Tim Draper Still Thinks Bitcoin Can Reach $250K – Just 2 Years Later Than He Expected