Tim Draper, a mythological project industrialist founded in Silicon Valley, has long been a supporter in Bitcoin (BTC), apparently purchasing boatloads of the digital asset in 2014. And even while BTC has shattered in its price after that experiencing merely instruction run that sent cryptocurrencies ‘to the moon’, Draper has claimed that he hasn’t sold, as he still expects this innovative asset class to prosper in the long pull.
More precisely, speaking with CoinTelegraph, Tim Draper recently doubled-down on his $250,000/BTC price calculation, one of the most positive predictions for the world’s leading cryptocurrency.
Touching on this train of thought, the American crypto multi-millionaire stated:
I always look at a crisis as an opportunity. And that’s the way I’m looking at this one. All times are good times to enter the crypto market. If you are forward-thinking, you’re going to look and say ‘this is just better currency’, so it’s just a matter of time before the world adopts it. [This will happen] when everything I can do with fiat, I can do with Bitcoin.
Conversing the above-mentioned point in-depth, Draper stated that dollars will ultimately be inappropriate pieces of paper. More precisely, in Draper’s vision ideal, BTC practice in the real world will not be simple, but severely more money-making as compared to credit cards, which charge 3 percent to 5 percent on every transaction. As per him, cryptocurrencies is not tied to a central bank, he added at the end, whether it ETH or be BTC aren’t subject to the notions of increase and the faults in human nature. Speaking on Bitcoin’s current session of capitulation, which saw the aggregate value of all cryptocurrencies fall under $130 billion, Tim, who runs a venture fund and entrepreneur-focused university that shares his surname, noted that the sell-off was simply a ‘fluctuation.”
Keeping all this in mind, Draper then explained why he expects for $250,000/BTC to still occur sometime in the future. The venture capitalist first noted that the dollar will lose strength against BTC, while the aforementioned digital asset will begin to make up more and more of the global currency market.