Bitcoin Price Will Hit $250K by Q1 2023 Despite Consolidation, Says Tim Draper

Bitcoin (BTC) price will still hit $250,000 but its status as a safe haven asset could see investors waiting a little longer than planned, serial VC investor Tim Draper says.

“People have consolidated towards Bitcoin”

Speaking in an interview with Yahoo! Finance on Aug. 9, the notoriously bullish Draper doubled down on his prediction that Bitcoin will hit $250,000 by 2023. Due to current trends, however, there might be a slight delay to the giant price tag becoming reality.

“It’s consolidated more than I thought it would,” he told the network.

He added: 

“I thought there would be many more competitors at this point that were really relevant, but people have consolidated towards Bitcoin because it’s decentralized.”

Draper is well known for his Bitcoin price prediction, something he has repeated multiple times over the years. Now, he considers a likely time frame for the prophecy fulfilling itself as somewhere in the next four years.

“$250,000 by 2022, and I’m hedging a little, maybe Q1 2023,” he added.

Bitcoin increasingly attractive amid economic uncertainty

As Cointelegraph reported, the consolidation Draper spoke of has seen wider support this week as the fallout from instability in China spurs what many commentators are describing as a flight into Bitcoin. 

If the quarter million figure still eludes markets come 2023, however, Draper has not mentioned what he will do. 

John McAfee, however, has issued himself a much more intense ultimatum; if BTC/USD does not hit $1 million by the end of 2020, the mogul says he will eat his own penis. 

A dedicated tracking resource allows those curious to keep track of how much upside Bitcoin should undergo in order to avoid the situation.

11  Comments Add a comment…

  • Masao Akimoto  

    Cmon, it hardly barely maintained $12k. Keiser was wrong meaning Tim will be off by a wider margin.

    Reply

    • Bitcoin Price Will Hit $250K by Q1 2023 Despite Consolidation, Says Tim Draper V AMG Masao Akimoto  

      When Tim Draper picked up most of his BTC, the price was $600, it fell to $200 and he predicted it would hit $10,000 by 2017. As we know, it hit roughly $19,900 in 2017. Considering we were around $3k just a few months ago, and now sitting at $12k, you would have to be VERY pessimistic to think $250k isn’t possible by 1st Quarter 2023. Crypto markets should see $5 to $7 trillion by then.

      Reply

  • Bitcoin Price Will Hit $250K by Q1 2023 Despite Consolidation, Says Tim Draper Vincent DiMarco  

    In other news, Beanie Babies will also be hitting $250k by Q1 2023, despite the fact that nobody is interested in them anymore…just sayin’.

    Reply

    • Bitcoin Price Will Hit $250K by Q1 2023 Despite Consolidation, Says Tim Draper Brian Kunzig Vincent DiMarco  

      You’re doing yourself a disservice thinking Bitcoin is similar to beanie babies in any way. We’re witnessing the advent of global hard money that hasn’t been seen since countries left the gold standard.

      Reply

    • Bitcoin Price Will Hit $250K by Q1 2023 Despite Consolidation, Says Tim Draper Next Gen Gaming Vincent DiMarco  

      It only takes 10 minutes of research to learn the many and completely fundamental differences between Beanie Babies and Bitcoin. So here you are reading a crypto site, but you haven’t been able to find 10 minutes to do some of your own basic research? Suggestion, stop reading and commenting for 10 minutes and do some of your own research. If you still think Beanie babies and BTC are comparable please do come back and tell us all of the ways in which you believe they are similar. Your comments will be great for adding a bit of levity to our day. Seriously.

      Reply

      • Bitcoin Price Will Hit $250K by Q1 2023 Despite Consolidation, Says Tim Draper SurfCMIO Vincent DiMarco  

        He was kidding nimrod…

        Reply

  • Bitcoin Price Will Hit $250K by Q1 2023 Despite Consolidation, Says Tim Draper V AMG  

    I remember when BTC was around $ .07 cents, and when it hit $7. I also remember it hitting $1,300 on some exchanges back in 2013. When it fell to $200 in 2014 lots of people were saying it’s dead. Tim Draper has been the voice of reason and accuracy for a very long time. His predictions so far have proven to be modest, and very well thought out. I guess something billionaires have a knack for…

    Reply

    • Bitcoin Price Will Hit $250K by Q1 2023 Despite Consolidation, Says Tim Draper barbagiggia V AMG  

      Absolutely right.

      Reply

  • VARDA  

    Bitcoin has been profitable for 3816 days out of a total of 3869 days (98.63%).

    Reply

  • Bitcoin Price Will Hit $250K by Q1 2023 Despite Consolidation, Says Tim Draper SurfCMIO  

    Nothing but a bunch of Kool-aid drinkers here. BTC is a ponzi scheme bubble. Ask all the people in SE Asia who lost their shirt to you pumpers. Oh, BTW…BTC is not the new global hard currency. LOL.

    Reply

  • Bitcoin Price Will Hit $250K by Q1 2023 Despite Consolidation, Says Tim Draper Desiree Cretan  

    If it hits $250K how much would be the cost to send BTC ? He’s an idiot.

    Reply

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