One of the most successful venture capital investors, Tim Draper, has made a bullish prediction about bitcoin in the long term. He believes the price of bitcoin will reach $250,000 six months after halving.
Billionaire doubles down on his bitcoin prediction.
In an interview with BlockTV, Tim Draper said that bitcoin is ready for mass adoption, and floodgates will open up real soon. He further said that bitcoin customer adoption will lead the price of the leading cryptocurrency to $250,000 in just a couple of years. Currently, bitcoin is changing hands at just above $7,100. Earlier, the price had slumped down below $6,000 for the second time in six months. He said that the current situation might be an interesting buying opportunity for investors.
Tim Draper defends Facebook and Libra
When asked about Facebook’s Libra, Draper said that regulators should not suppress the innovative projects, and Libra should be allowed to develop. The billionaire also defended Virgil Griffith, who was arrested by the FBI for giving a lecture on cryptocurrencies in North Korea. He said that governments all over the world are forcing tribalism to remain in power, but he opined that the next winning governments will be those who will adopt more decentralized tools.