Tim Draper Predicts Bitcoin (BTC) to Hit $250,000 in 2024

Joshua Ramos
Source: Asia Tech Daily

Billionaire and venture capitalist Tim Draper has predicted Bitcoin (BTC) to reach a price of $250,000 in 2024. Moreover, speaking to Coin Bureau, Draper stated that he expects his prediction to “probably come pretty soon,” while stating the price should “go way past” the forecast.

Draper is one of many that have predicted a rapid upswing for the asset in the coming year. Amid the hype over the potential US Securities and Exchange Commission (SEC) approval of the country’s first Spot Bitcoin ETF, the asset could be poised for a massive surge. Susbeuqnlety, Draper appears immensely optimistic about its impending performance in the new year.

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Billionaire Tim Draper Sees $250,000 Price for Bitcoin

Over the last few months, expectations for a Spot Bitcoin ETF approval in the United States have reached a fever pitch. The industry is seemingly eyeing an early 2024 date for its arrival, with the asset expected to observe huge gains. Yet, none have been as vocally optimistic as one venture capitalist.

Indeed, billionaire Tim Draper has predicted Bitcoin (BTC) to hit $250,000 in 2024. Moreover, peaking to Coin Buruea, he delved into the forecast, stating his expectation for it to arrive “pretty soon,” and exceed the figure.

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During the conversation, Draper discussed his previous Bitcoin prediction, stating that the aset would reach $250,000 from $4,000 in just four years. “When I predicted that, what I didn’t expect was how fearful and just old thinking the US would be,” he stated. “I think, with a receptive US, we would be having conversations like the ones I have with people from El Salvador.”

“WE are going through the boom cycle,” Draper added. “I think this year we might see $250,000… I actually think that if it his $250,000, It’ll go way past it.” Conversely, he discussed the role of smart contracts and Bitcoin. Specifically, he expresses its place in bringing about a “new economy… [with] far less friction. I think that’s very exciting.”