Tim Draper: Bitcoin’s price to 2022 250,000 USD is still realistic

Home News Tim Draper: Bitcoin’s price to 2022 250,000 USD is still realistic

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Marcus Misiak –
22.09.2018

The venture capitalists and Bitcoin COP Tim Draper believes it, that the Bitcoin price will reach in the coming years, new records. In an Interview with TheStreet he said that he remains confident that Bitcoin (BTC) is cracking up to 2022, the 250,000 US Dollar mark, a goal he said for the first time in June of this year.

Currently, the price of Bitcoin is still around 66% below the all-time high of December 2017. Nevertheless, the venture capital investor Tim Draper is confident that it will soon come to a long-term upward trend. In addition, he gave investors the recommendation of new lows are unsettling. On the question of whether he will keep his $ 250,000-forecasts to 2022, said Draper in an Interview with the TheStreet (freely translated):

Bitcoin will be as big. So if you see a Dip, and spring. Maybe it will drop to [BTC], but Boy, I made this prediction and I’m sticking to it. $ 250,000 to 2022 for Bitcoin.

In the Interview, Draper also explained how much Bitcoin he owns and how his beginnings with Bitcoin looked like. As he told, produced he first Bitcoin by Mining and deposited these coins on the Mt.Gox exchange, which is known to be gone dimensions as a result of the largest crypto-currency exchanges-Hacks of all time, bankruptcy. Draper initially thought that the collapse of Mt.Gox would mean the end for Bitcoin. As he noted, however, that this was not the case, he was an Enthusiast for Bitcoin, and bought more Bitcoin:

I thought Mt. Gox’s collapse was the end. But Bitcoin fell on this day, only 10% or 15% […] And then I: Moment of thought. The people really need it. This is really important. And so I started to buy a Bitcoin after the Other.

Shortly after the end of 2013, the US authorities had seized 144.336 Bitcoins from the operators of Silk Road, held an auction of some of these BTC. Draper went “All-In”, as he told:

There were nine Lots […] of The market price of BTC at that time was 6,18 USD. I thought: you Know, if I want this stuff, I can also offer above the market price. Here’s my opinion: Either this thing goes to nothing and you know, bad – or it goes sky high and no one will care that I paid 5% more for it. So I offered up to 632 USD and I have not only one, I get all of the Lots. I think there were about 40,000 Bitcoin.

For Draper Bitcoin is not only an Investment, but also a change in the paradigm of how people’s assets to store values. While banks can currently exercise free about the accounts of every investor and clients that allow for crypto-currencies, such as Bitcoin gain control over their own assets back, by is this managed in a Wallet, the Private Key itself, and thus its “own Bank”:

The other thing is, when I look at a Bank, I think This is a large, spectacular building and all the people that come out of this Bank, carry really nice clothes and as my put all of my money. And in another scenario I’m in my Ledger, charging a couple of crypto-currency and the main pull out the book and say, “There’s my Bank.” This is sure to […] and I don’t need to make all of them [Bankers] to rich […] That is a great feeling.

To the question, what is the impact of the Blockchain would have on the economy, said Draper, that the technology was very important. He noted that this is the beginning of something that is bigger than the Internet. While the Internet is mainly focused on Information, communication, entertainment and games sectors amounted to between 10 billion and 100 billion dollars, is revolutionizing the Blockchain much larger industries: