{"id":12478,"date":"2024-04-11T16:41:07","date_gmt":"2024-04-11T13:41:07","guid":{"rendered":"https:\/\/forklog.com\/en\/tim-draper-predicts-bitcoin-to-reach-250000-by-year-end\/"},"modified":"2024-04-11T16:41:07","modified_gmt":"2024-04-11T13:41:07","slug":"tim-draper-predicts-bitcoin-to-reach-250000-by-year-end","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/tim-draper-predicts-bitcoin-to-reach-250000-by-year-end\/","title":{"rendered":"Tim Draper Predicts Bitcoin to Reach $250,000 by Year-End"},"content":{"rendered":"<p>Investor and billionaire Tim Draper anticipates that the price of the leading cryptocurrency will triple to $250,000 by the end of the year.<\/p>\n<p><iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/36d1u3656YU?si=EfNiK9w1hLRFULdt\" title=\"YouTube video player\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;If I had to predict, perhaps by the end of the year we would see $250,000 [per bitcoin]. I mean, everything looks pretty good,&#8221; he noted.<\/p>\n<\/blockquote>\n<p>According to the businessman, the current rally is fueled by increasing inflows into spot exchange-traded funds based on digital gold. Draper stated that investment products have opened new opportunities for investors who were hesitant to hold the asset themselves.<\/p>\n<p>Access to ETFs allows investors to continue working with management companies like Fidelity or JPMorgan and trade the new asset class within a broader investment portfolio. Bitcoin also offers protection against the devaluation of national currencies, the billionaire believes.<\/p>\n<p>Draper added that the limited supply of the coin and its growing adoption as a payment method will enhance the asset&#8217;s appeal to the masses:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;I really started to see the boundaries blur. People feel more comfortable with their bitcoins than with their dollars.&#8221;<\/p>\n<\/blockquote>\n<p>The fourth halving of the reward for miners will also significantly impact market dynamics, so investors should consider the importance of this event, Draper warned.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;If you&#8217;re a stock market investor, you&#8217;re told: don&#8217;t bet against the Fed [Federal Reserve System]. If you&#8217;re a bitcoin buyer, don&#8217;t bet against the halving. It changes everything. Supply decreases, demand increases, and the price goes up. Natural economics,&#8221; he explained.<\/p>\n<\/blockquote>\n<p>Draper pointed out that the income from the leading cryptocurrency is becoming a more attractive means of hedging against growing concerns about bank bankruptcies and the devaluation of national currencies.<\/p>\n<p>Previously, the entrepreneur repeatedly forecasted bitcoin&#8217;s rise to the level he specified. In 2018, Draper predicted the asset&#8217;s price would reach $250,000 by 2022.<\/p>\n<p>Later, he extended the timeline to early 2023, in November 2022 adding another six months.<\/p>\n<p>In July 2023, the billionaire reiterated his prediction, pushing the deadline to 2025.<\/p>\n<p>In September, he introduced the &#8220;venture studio&#8221; Draper Goren Blockchain, aimed at accelerating &#8220;DeFi innovations&#8221; through funding early-stage crypto projects.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investor and billionaire Tim Draper anticipates that the price of the leading cryptocurrency will triple to $250,000 by the end of the year. &#8220;If I had to predict, perhaps by the end of the year we would see $250,000 [per bitcoin]. I mean, everything looks pretty good,&#8221; he noted. According to the businessman, the current [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12477,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1146,954],"class_list":["post-12478","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-cryptocurrency-market-forecasts","tag-tim-draper"],"aioseo_notices":[],"amp_enabled":true,"views":"63","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/12478","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=12478"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/12478\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/12477"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=12478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=12478"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=12478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}