$BTC
The renowned venture capitalist, Tim Draper, has once again shaken the crypto ecosystem. In a recent statement this April 2026, he not only renewed his famous (and postponed) prediction that Bitcoin (BTC) will reach $250,000, but also shared the battle scars that forged his unwavering conviction in the digital asset.
A story of resilience: From $4 to the collapse of Mt. Gox
Draper revealed that his romance with Bitcoin began when the price was just $4. In an early attempt to mine the currency, he partnered with Peter Viscenne to acquire equipment from Butterfly Labs. However, the company delayed deliveries (allegedly using the equipment to mine themselves) and by the time the hardware arrived, BTC was already above $30.
Shortly after, Draper suffered a devastating blow: he lost all his funds in the hacking and subsequent collapse of Mt. Gox in 2014. Far from abandoning the sector, this event strengthened his thesis. Observing that, despite the fall of the largest exchange in the world, the price of Bitcoin remained strong, he realized he was facing a technology with real and decentralized utility.