Companies that have not included the first cryptocurrency in their treasury reserves are acting “irresponsibly,” stated investor and billionaire Tim Draper at the FT Digital Assets Summit, reports Decrypt.
He reaffirmed his prediction of Bitcoin reaching $250,000 by the end of 2025. The businessman attributed the delay in achieving this target to “excessive regulation under the Biden administration,” but expressed confidence in a trend reversal.
Draper added that he hopes to establish a fund “within the next five years,” based solely on Bitcoin. All operations will be automated by smart contracts, reducing audit and legal costs to zero, he explained.
The investor also suggested that there is a “gravitational pull towards Bitcoin” and a shift away from altcoins as a development platform.
While innovations were previously created on Ethereum and Solana, engineers are now focusing on digital gold, the expert noted. According to Draper, thanks to Ordinals, Runes, and smart contracts, the network is transforming into a multifunctional platform.
The businessman compared the first cryptocurrency to the invention of gunpowder:
“Wars changed after it, commerce will change after Bitcoin.”
In his view, fiat currencies will first be replaced by stablecoins, and then give way to digital gold.
At the time of writing, Bitcoin is trading at $98,897, according to CoinGecko. The daily growth rate is 2.4%.
Back in April, Draper supported U.S. President Donald Trump’s tariff policy and expressed confidence in the prospects of the first cryptocurrency regardless of the situation’s development.