Silicon Valley renowned venture capitalist and founder of Draper Associates, Tim Draper, is known for his early investments in companies such as Skype and Tesla. Recently, he made a stunning prediction about Bitcoin, stating that with widespread adoption and the weakening of the US dollar, Bitcoin could rise to $10 million.
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Bitcoin in El Salvador brings in $83 million in profit! Legendary investor Tim Draper: It will become the wealthiest country in the world.
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Bitcoin could reach $250,000 by 2024! Silicon Valley venture capitalist Tim Draper: BTC potential comparable to Microsoft.
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Tim Draper, the well-known venture capitalist in Silicon Valley and founder of Draper Associates, is an early investor in Bitcoin. He correctly predicted that Bitcoin would surpass $10,000 in 2017. In a recent interview on the podcast “Searching for Mana,” he made an astonishing statement, claiming that Bitcoin would rise to unimaginable levels.
Bitcoin just completed its fourth halving at block height 840,000 yesterday morning at 8:09 am. The block reward was reduced from 6.25 BTC to 3.125 BTC. Regarding the halving event, Tim Draper believes that this will cause the price of Bitcoin to soar again.
Due to the successful launch of the Bitcoin spot ETF in January this year, the price of Bitcoin reached a new all-time high before the halving. Unlike previous halving cycles, Tim Draper described the ETF as an “accelerant” that he did not anticipate.
Before the fourth halving, Tim Draper told Cointelegraph that the halving would help push Bitcoin to “reach $250,000 or higher.” It is worth noting that Tim Draper previously predicted multiple times that Bitcoin would reach $250,000 by 2022, but this prediction turned out to be completely inaccurate. Regarding this, Tim Draper explained on the Searching for Mana podcast that his arrogance overcame him.
Tim Draper stated that there are many reasons why Bitcoin did not reach $250,000 in 2022. The first reason is that regulatory agencies took severe actions against the cryptocurrency industry after the pandemic. The second reason is that his prediction that Bitcoin payments would become widespread in 2022 did not materialize.
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