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Many speculations are made when it comes to Bitcoin. The cryptocurrency is going up and down all the time, fluctuating around the $8,000 level these days. However, with the blockchain infrastructure getting improved constantly, the value of Bitcoin may be going up in the future.
One investor who believes in that is Tim Draper, one of the most famous and successful venture capitalists in the US. He is also one the most fervent “bulls” when it comes to Bitcoin.
Draper founded Draper University in San Mateo, a university that focuses on entrepreneurship and experience-like teaching. So, on April 12th, at the 2018 BlockChain Party at Draper University, Draper predicted that Bitcoin can go up to $250,000 in 2022. With that, he advised students and everyone who attended not to be “blind-sided” by “bears” and negative predictions on the long-term destiny of Bitcoin.
The Bitcoinist just reported what Mr. Draper said:
“I’m thinking $250,000 a bitcoin by 2022… Believe it, it’s going to happen; they’re going to think you’re crazy but believe it, it’s happening, it’s going to be awesome!”
While many are predicting either voluminous growth for Bitcoin or a tremendous crash along the way, Tim Draper had already correctly foreseen the rise of Bitcoin to $10,000 in around 2017. Prices of the currency went up to around $20,000 in January 2017, so his prediction turned out right. According to media, he did that in 2014, when Bitcoin was trading at the “humble” $300 – $400 level.
Coming from a family of venture capitalists, Tim Draper has built an empire called Draper Associates and DFJ, which invested in companies such as Skype and Baidu. His attitude and accurate predictions about Bitcoin’s price have made many listen to what he says and when. So, the speech he gave at his university might be very interesting to the short- to medium-term price of Bitcoin.
The “people’s currency” just went up with 17% last night, trading at around $8,011 according to Coinbase. The major reasons for that are considered the short-sells that needed to be covered after the price increased, as well as the fact that many bought in after betting against the price of Bitcoin going up.