Billionaire and long-time Bitcoin (BTC) bull Tim Draper is doubling down on his call that the crypto king will burst above $250,000.
The venture capitalist tells his 253,500 Twitter followers that he was a bit off in his previous prediction that BTC would reach $250,000 in 2023.
With Bitcoin trading just above $30,000, Draper is now extending the timeline for his price target. According to the billionaire, Bitcoin could shatter the $250,000 level by 2025.
“So much for my predictive abilities…It is June 30, 2023. When Bitcoin was $4,000, I predicted it would reach $250,000 (60x) by now. It has only reached $30,000 (7x). I guess we have to wait a little longer, (maybe two years) but engineers are hard at work.”
Earlier this year in March, Draper said that he’s “almost 100% sure” that his prediction of the king crypto hitting the $250,000 area will happen in the next 18 months, adding that investors should be wary of centralized exchange platforms.
Last month, the billionaire also sounded off against Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission (SEC), saying that his anti-crypto policies are stifling digital asset innovation in the US.
At the time, Draper said the SEC should have no oversight over the digital asset industry and that the regulatory climate in the US is confusing and discouraging.
Bitcoin is trading for $30,587 at time of writing, a fractional increase during the last 24 hours.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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