Get ready for the $250,000 Bitcoin by 2022 (according to one billionare crypto investor)
The predictions of a long-term Bitcoin rally keep coming…
With the price of Bitcoin staying – save for the odd, brief spike – in the mid-$6000s for some time now, it’s been the least volatile period for the coin all year. In fact, crypto on the whole has been a lot more settled, albeit against a backdrop of predictions suggestion a further price explosion is imminent.
As long term investors continue to HODL, though, one prominent crypto evangelist – Tim Draper – has doubled down on his views that Bitcoin and its ilk have a very bright future.
Draper, a billionaire venture capitalist, has made bold price predictions before. An in a new address at the Los Angeles Crypto Invest Summit, he’s iterated his view that a single Bitcoin will cost around $250,000 by 2022.
Why does he think that? As per his speech, “right now, there’s $86 trillion of political currency. They call it ‘fiat’ currency, but it’s political. And I believe that that currency will slowly be eaten up by a better currency which is global, decentralized, frictionless. It’s just a better currency. Bitcoin’s a better currency. And I think Bitcoin will be one of five cryptocurrencies”.
He adds that a transformation of the world’s financial models will have a knock-on effect for the planet’s governments, and also, that blockchain technology will change the way legislatures go about their work.
Draper isn’t alone with his bullish predictions, but given his background, inevitably his words attract interest.
Will he be saying ‘I told you so’ in four years’ time, though?