Venture capitalist Tim Draper has set the estimated time frame for Bitcoin to reach its $250,000 price. Draper optimistically expects the world's largest cryptocurrency to reach his predicted price target, but acknowledged that "it may take a little longer."
Tim Draper's $250,000 Bitcoin Price Prediction Venture capitalist Tim Draper has adjusted the time frame of his Bitcoin price prediction. In his tweet on Friday, he stated that while Bitcoin's price was $4,000, he predicted it would increase 60-fold and currently reach $250,000. However, BTC finished June below $31,000. “I guess we just have to wait a little longer,” he wrote, adding that it might take another two years for his $250,000 estimate to come true.
Draper had previously predicted that Bitcoin's price would reach $250,000 by the end of 2022. However, on December 31, 2022, he acknowledged that his prediction of "$250,000 by 2022" was "slightly off." However, he insisted that BTC's price will "definitely" reach the predicted level before mid-2024.
https://twitter.com/TimDraper/status/1609281214871146496
When his prediction did not come true in December last year, he extended the BTC price prediction period by another 6 months until mid-2023. If that doesn't happen, then Bitcoin will definitely reach the $250,000 milestone by the end of 2024, he told the Observer. “I'm pretty sure I'll be about 100% accurate,” he said. The venture capitalist also expects the Bitcoin price to rise above his prediction due to female adoption.
According to his tweet on Friday, Draper so far believes it could take until the end of June 2025 for Bitcoin to reach the $250,000 price point.
Draper also expressed concerns about cryptocurrency regulations and criticized the enforcement approach followed by the US Securities and Exchange Commission (SEC).
"Regulation by enforcement is killing our economy. It's also killing China," he tweeted on June 20. In an interview with Fox Business on June 12, he criticized the securities regulator and its chairman, Gary Gensler, for taking an enforcement-oriented approach to regulating the crypto industry:
I think we really have a problem because the SEC is spreading fear and all the innovators are leaving... Regulation with this practice makes no sense.
When will Tim Draper's $250,000 Bitcoin price prediction come true?
