Bitcoin (BTC) could be worth millions of dollars after 2022 as payment processors allow easier transactions, Tim Draper has forecast.<\/p>\n
Speaking during a Q&A session at the Malta AI & Blockchain Summit last week, the pro-cryptocurrency venture capitalist said innovations such as the Lightning Network would be key in propelling the Bitcoin price higher.<\/p>\n
Doubling down on previous claims, Draper added he still believed BTC\/USD would hit $250,000 by 2022 or 2023.<\/p>\n
I think Bitcoin payment processors are really going to open the floodgates, he summarized.<\/p>\n
On the topic of why Bitcoin would reach new records within just the next three to four years, Draper continued:<\/p>\n
Its because of Lightning Network and OpenNode and maybe others that are allowing us to spend Bitcoin very freely and quickly, so that its not just a store of value but it can be used for micropayments; it can be used for retail, it can be used all over.<\/p>\n
While not a payment processor in a strict sense, Lightning facilitates near-instant BTC transactions between nodes via channels that cost almost nothing to use. The fees for Lightning transactions can, therefore, be much cheaper than transacting on-chain just a single satoshi (approximately $0.00008788).<\/p>\n
As Cointelegraph reported, Draper has long been one of Bitcoins biggest bulls, joining the likes of John McAfee in delivering sky-high price predictions.<\/p>\n
In September, he even went as far as to call the $250,000 figure conservative, while subsequently arguing Bitcoin would cause considerable geopolitical upheaval.<\/p>\n
Other voices have since joined him in his price belief, with BTCC exchange co-founder Bobby Lee last week claiming BTC\/USD would be worth around $500,000 by 2028.<\/p>\n
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