Tim Draper announces a new venture- Grit BXNG, expects bitcoin to hit $250,000 by 2023

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Tim Draper, is an American Venture Capitalist, a billionaire investor, and founder of Draper Associates made it to the news headline when he predicted that the price of bitcoin would reach $250,000 by the year 2022, but on Thursday he made a few tiny changes in his statement.

During an interview, Tim announced the opening of a boxing gym, Grit BXNG in which he had invested. Co-founded by Bill Zanker, it is the first gym ever to accept bitcoin as a method of payment. Along with this he further added that the price might reach $250,000 in 2023 instead of 2022.

Draper didn’t increase the price of his prediction even though bitcoin has seen a bit of boost off the back of the market and its volatility. The U.S.-China trade war has dragged down the stocks, and this drop in the stock prices have to lead to people moving to bitcoin and considering it as the “digital gold.”

Draper is not amongst those who will quickly give up when it comes to using cryptocurrency as a method of payment. The gym he partnered with has started accepting bitcoins as a form of payment. He insisted them to use cryptocurrency as a payment method because it will allow the user to save on the payment processing fees associated with credit card companies.

Tim has been keeping up with the market trends, and he has invested millions in bitcoins already. If the cryptocurrency decides to appreciate and meet his price target, then Grit BXNG’s move of accepting bitcoin as a payment option will prove out to be another brilliant move.

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Vineet Chaudhary
Vineet Chaudhary
Vineet Chaudhary is a content writer with computer applications as his background field. His interests range from writing and photography to going out for trips and rides on weekends.

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