Billionaire venture capitalist Tim Draper says he believes Bitcoin will surge more than 230% from current levels.
In a new post on X, Draper reflects on his early experiences with Bitcoin and the events that shaped his long term conviction.
He says his initial exposure came at around $4, ahead of major setbacks including the Mt. Gox hack.
Despite those early challenges, Draper says his confidence strengthened after observing real world use cases.
“It turned out that Bitcoin was being used for remitting money, paying unbanked employees, and creating economies where there weren’t any…
So when I heard about the US Marshall’s auction, I bid over market at $632 and bought all nine lots offered.”
Draper admits that his bullish targets have not yet hit, but says he remains confident in Bitcoin’s trajectory.
“I have reason to believe that Bitcoin will reach $250k in 18 months. Bitcoin rises and the dollar falls to inflationary pressures.”
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