Bitcoin Maxi Draper: $250,000 in 2025 – BTC Will Replace Fiat
There are not many Bitcoin maximalists left who dare to predict the once-legendary $250,000 per BTC. But Tim Draper sees a new Bitcoin rally in which cryptocurrencies will replace fiat money.
Bitcoin has established itself at a level just under $30,000 in the second half of 2023, and headlines about price predictions from around the crypto ecosystem are rarely heard. But venture capitalist Tim Draper has never stopped believing in Bitcoin and forecasts a price of $250,000 per BTC by 2025. Draper announced this goal at an event in Singapore, as reported by Decrypt. Draper is convinced that the critical use case of Bitcoin lies in its future as a universal currency. He predicts that BTC will replace fiat currencies like the US dollar or the euro.
Draper, aged 65, is a veteran in the crypto scene and claims to have first bought Bitcoin in 2011 when it was available for pennies. In 2014, Draper attracted public attention when he acquired Bitcoin at a price of $650 each from an auction sealed by the US government. Back then, Draper expected an exchange rate of $10,000 for Bitcoin by 2018, and his prediction was roughly correct. His long-lasting goal of $250,000, however, has since lagged reality. In mid-2023, as Bitcoin temporarily surged to almost $70,000, Draper reiterated his $250,000 target. However, he also delayed by six months his prediction of achieving this in 2022. Now, Draper believes the timing is right for the end of 2025.
Bitcoin halfing moves closer
His fundamental thesis is that the young generation is more accustomed to digital money than traditional currencies, paving the way for Bitcoin’s widespread adoption as a means of payment. At the same time, geopolitical turmoil has made the security of funds more important, further benefiting Bitcoin. Whether Draper will be correct with all of this remains to be seen, but with the next Bitcoin halving event approaching, there’s another expected short-term price boost waiting. For historical comparisons, its worth mentioning that Bitcoin’s market capitalization would need to reach around $6 trillion to achieve the $250,000 mark.
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