Tim Draper continues to predict Bitcoin price will reach $250,000 by 2024

Venture capitalist Tim Draper shared his Bitcoin price prediction for 2024 in an interview with Coin Bureau last week.

Draper explained that when the BTC price reached $4,000, he predicted that it would rise to $250,000 in four years.

“When I predicted that, what I didn’t expect was that America would be so scared and ‘old-fashioned’. I think with a ‘receptive’ America, we will have conversations like the ones I have with the people of El Salvador.”

El Salvador was the first country to accept BTC as legal currency alongside the US dollar.

Emphasizing that he still believes BTC will reach $250k in the near future, Draper commented:

“I think all that is just a delay. I would call it fear-based delay… old government delay.

I can say that my $250,000 number is probably coming soon, so I’m going to stick with this belief… I really think that once BTC hits $250,000, it’s even possible can go far beyond that number.”

While expressing his belief that “the market is going through a boom cycle” and anything is possible, he reiterated:

“I think Bitcoin can hit $250,000 next year.”

“I am a big fan of smart contracts. I can’t wait for the time when I can raise all my investors’ money in Bitcoin, invest it all in Bitcoin, have them all pay their employees and suppliers… as well as taxes and everything else in bitcoin, and all of it will be completely accounted for, audited without the need for accountants, auditors, bookkeepers, transfer agents or tax lawyers… The New Economy This will result in much less conflict. I think that’s very interesting.”

He also commented on stablecoins, stating:

“I think the role of stablecoins will be a bridge to Bitcoin. The way stablecoins work, they will last as long as the dollar lasts and then when the dollar drops, people will move to Bitcoin.”

The venture capitalist previously explained that he expected Bitcoin’s price to rise higher than his estimates due to female adoption. He predicts that at some point in the future:

“All women will have Bitcoin wallets and buy everything with Bitcoin and you will see the price of Bitcoin hovering around the $250,000 region as I predict.”

At the time of writing, BTC is trading at $42,765 with a market capitalization of over $800 billion.

 

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