Legendary venture capitalist Tim Draper is still confident that the Bitcoin price is going to reach $250,000 in 2022.<\/p>\n
In his recent interview, he explained that the uber-bullish forecast is not based on the halvening.<\/p>\n
Back in September 2014, Draper predicted that Bitcoin would be able to hit $10,000 in only three years. That prediction turned out to be conservative -- the Bitcoin price skyrocketed to $20,000 in December 2017.<\/p>\n
Now, Draper claims that he's more confident about his $250,000 prediction than his previous one.<\/p>\n
\"I am more confident of $250,000 by 2022 or the first quarter of 2023 than I am of the prediction of $8,500 on December 31.\"<\/p>\n
The most interesting part about his prediction is that it's not based onBitcoin's stock-to-flow model(S2F). The coin's flow is halved every four years, which historically leads to a massive bull run.<\/p>\n
Instead, he expects Bitcoin to secure a five percent market share as an alternative currency.<\/p>\n
\"My prediction was really based on creating enough of an infrastructure for Bitcoin to get a 5% market share around the world, as a currency.\"<\/p>\n
Draper claims that he's still buying Bitcoin because he takes it for tuition at Draper University. <\/p>\n
Draper states that he's moving towards a decentralized world that relies on Bitcoin and smart contracts. The media and governments around the globe will soon realize its potential.<\/p>\n
\"The currency business today is $86 trln. If you add crypto in 10 years from now, I think it's going to be $120 trillion. That's a huge, huge market...\"<\/p>\n
Draper also says that he does like the idea of forks because he loves innovations.Hebelieves that Bitcoin Cash has potential since it has some \"bright\" people working on it.<\/p>\n
\"My religion is in building progress and getting us to this new decentralized world, which I think is coming.\"<\/p>\n
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