{"id":70165,"date":"2022-11-16T15:22:52","date_gmt":"2022-11-16T13:22:52","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=70165"},"modified":"2025-09-08T00:29:15","modified_gmt":"2025-09-07T21:29:15","slug":"tim-draper-sticks-to-250000-bitcoin-price-forecast","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/tim-draper-sticks-to-250000-bitcoin-price-forecast\/","title":{"rendered":"Tim Draper sticks to $250,000 bitcoin price forecast"},"content":{"rendered":"

The price of bitcoin will reach $250,000 by early 2023, despite the FTX collapse<\/a> crisis. This was stated by venture investor and billionaire Tim Draper in an interview with Cointelegraph<\/a>.<\/p>\n

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\u201cThere are no changes to the price forecast,\u201d he stressed.<\/p>\n<\/blockquote>\n

According to Draper, the FTX collapse has nothing to do with Bitcoin’s success, since it is decentralized, while Sam Bankman-Fried’s exchange is not.<\/p>\n

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\u201cFTX was centralized, depended on a single founder. When a currency is centralized \u2014 for example, by a central bank \u2014 it has a single point of failure, and it can be manipulated,\u201d the billionaire explained.<\/p>\n<\/blockquote>\n

The current crisis will lead to even greater decentralization in the crypto industry, Draper suggested:<\/p>\n

\n

\u201cI think this FTX fiasco will attract a far larger group of bitcoin maximalists. Note that your money is not protected in a centralized system, whether it\u2019s crypto or fiat.\u201d<\/p>\n<\/blockquote>\n

He also emphasised the importance of self-custody, but expressed trust in the bitcoin exchange Coinbase<\/a>. According to the investor, he stores his assets on that platform and in the hardware wallet Ledger.<\/p>\n

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\u201cThey do not use my tokens for lending or investing,\u201d the billionaire noted.<\/p>\n<\/blockquote>\n

Earlier, Coinbase CEO Brian Armstrong made a similar statement<\/a>. He stressed that users of the exchange are not at risk, and the company itself does not control client assets without their knowledge.<\/p>\n

In 2018, Draper predicted bitcoin at $250,000 by 2022. Later he expanded the forecast<\/a> to early 2023, and more recently pushed it<\/a> out by another six months.<\/p>\n

Binance CEO Changpeng Zhao drew<\/a> a parallel between the current industry situation and the 2008 financial crisis. He believes more companies could fail in the near term.<\/p>\n

Earlier, Circle co-founder and CEO Jeremy Allaire compared FTX troubles to the collapse of Lehman Brothers<\/a>.<\/p>\n

Read ForkLog’s bitcoin news in our Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin’s price will reach $250,000 by early 2023, despite the FTX collapse crisis. This was stated by venture investor and billionaire Tim Draper in an interview with Cointelegraph.<\/p>\n","protected":false},"author":1,"featured_media":70166,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1138,954],"class_list":["post-70165","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-opinions","tag-tim-draper"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70165","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=70165"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70165\/revisions"}],"predecessor-version":[{"id":70167,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70165\/revisions\/70167"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/70166"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=70165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=70165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=70165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}