Tim Draper envisions mass adoption of Bitcoin

Venture investor and billionaire Tim Draper told FOX Business in an interview that sooner or later the world will embrace the first cryptocurrency.

«Bitcoin is being accepted around the world, and it’s only a matter of time before retailers realise they can save 2% by accepting Bitcoin. They don’t have to pay banks and card issuers», he explained.

According to Draper, digital gold will transform the realms of commerce and currencies. Among Bitcoin’s advantages, the investor noted “a trusted third party, represented by hundreds of thousands of nodes” to ensure the authenticity of transactions.

In July Draper reiterated his forecast that Bitcoin would reach the $250,000 mark. He believes this will occur in 2025. In 2018 the investor first predicted Bitcoin would reach $250,000 by 2022.

As noted in July 2023, Standard Chartered analysts predicted that Bitcoin would rise to $50,000 this year and to $120,000 next year.

According to the analysts at crypto-financial service Matrixport, Bitcoin will surpass the $125,000 mark by the end of 2024.