Tim Draper Predicts When Bitcoin Will Hit $250,000
Venture capitalist and longtime Bitcoin bull Tim Draper reiterated his forecast for Bitcoin to hit $250,000 in 2024. Draper maintains that this price target will likely arrive soon and spur further exponential growth as adoption expands.
- Draper says he stands by the $250K BTC price forecast for 2024.
- Sees mass adoption driving prices to “go way past” $250K
In an interview last week with crypto education platform Coin Bureau, Draper said he continues to expect Bitcoin to reach $250,000, potentially in 2024.
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Draper predicted Bitcoin price to surge when it was $4,000
Draper first made waves when he issued the bold call for BTC to climb to $250,000 in four years, back when prices hovered around just $4,000. He now chalks up the missed target mainly to hesitancy by entities like governments to embrace the asset class.
“I would say that my number, $250,000, will probably come pretty soon…I actually think that if it hits $250,000, it’ll go way past it,” Draper stated. His reasoning rests on the notion that achieving critical mass adoption opens the floodgates for exponentially greater inflows chasing a finite Bitcoin supply.
The VC pioneer specifically cited Bitcoin’s technical superiority to fiat currencies thanks to decentralization and built-in scarcity.
With this almost evangelistic outlook on Bitcoin’s destined roadmap to mainstream status, Draper remains undeterred by the latest crypto winter slump. Draper also reassures his faith in ambitious long-term price forecasts for BTC that could make $250,000 just another milestone along the way.
