Tim Draper: Bitcoin Will Rise Above $250,000
|Nika Baráková|source|470x
Font size:-/+

Tim Draper: Bitcoin Will Rise Above $250,000

According to Tim Draper, the USD 250,000 bitcoin forecast is conservative. “USD 250,000 means that bitcoin would then have about a 5% market share and that may be understating its power," said Tim Draper. The stock-to-flow (S2F) model puts bitcoin’s price post-halving at USD 50,000. Based on the current number of BTC in circulation, the bitcoin market capitalization was just under USD 1 trillion.

Draper’s forecast thus places bitcoin firmly in the league of assets like gold with market caps in the trillions of dollars range. According to Draper, bitcoin provides a viable alternative to fiat currency, as distrust in currencies and governments is driving more people into cryptocurrencies.

Draper also said there was still work to be done to make bitcoin easier to use, which could result in more people being interested in cryptocurrencies. Already in February 2019, Draper predicted that people will be using bitcoin to pay for coffee by 2021. In late 2018, he was even part of a USD 1.25 million investment round for OpenNode, a bitcoin payment processor start-up.

As recently stated by Bitcoinist, BTCC founder Bobby Lee believes the bitcoin price could reach USD 200,000 “in a very short time”.

Comments

You must be logged in to add a comment.

DOLLERO NEWS