Venture capitalist Tim Draper reiterated his prediction that the Bitcoin (BTC) price will reach $250,000 in 2024 in a recent interview with Coin Bureau.
Despite current market conditions, Draper remained firm in his prediction, saying, “I would say my $250,000 number will probably come very soon.”
Draper first made this prediction when the price of BTC was $ 4,000 and predicted a significant increase within four years. However, he admitted that he did not anticipate the level of fear and conventional thinking that has since emerged in the United States. “I think if there was an understanding United States, we would be having conversations like I had with people from El Salvador,” he shared.
Despite these challenges, Draper remains optimistic about BTC's future:
“I think this is all a delay. I would call this fear delay…classic US government delay. “In fact, if it reaches $250,000, I think it will go well beyond that.”
Draper also expressed excitement about the ongoing “growth cycle” in the cryptocurrency market, saying “we could see $250,000 in the new year.”
Along with the price prediction, Draper also shared his excitement for smart contracts. He expressed that he looks forward to a future where he can collect all investor money in BTC, invest it all in Bitcoin, and where all transactions are accounted for and audited without the need for an accountant, auditor, transfer agent or tax lawyer.
Draper recently commented on the role of stablecoins in the crypto market. He believes that stablecoins will act as a bridge to Bitcoin and will remain valid as long as the dollar is valid.
*This is not investment advice.
