Billionaire and longtime Bitcoin (BTC) bull Tim Draper is doubling down on his call that the crypto king will burst above $250,000.
The venture capitalist tells his 253,500 Twitter followers that he was slightly wrong in his previous prediction that BTC would reach $250,000 in 2023.
With Bitcoin trading just above $30,000, Draper is now extending the timeline for his price target. According to the billionaire, Bitcoin could break the $250,000 level by 2025.
“So much for my predictive abilities… It is June 30, 2023. When Bitcoin was $4,000, I predicted it would now reach $250,000 (60x). It has only reached $30,000 (7x). I think we have to wait a bit longer (maybe two years), but the engineers are hard at work.”
Earlier this year in March, Draper said he is “almost 100% confident” that his prediction that the king crypto will hit the $250,000 area will happen in the next 18 months, adding that investors should be wary of centralized exchange platforms.
Last month, the billionaire also spoke out against Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC), who said his anti-crypto policies are stifling digital asset innovation in the US.
At the time, Draper said the SEC should have no oversight of the digital asset industry and that the regulatory environment in the US is confusing and discouraging.
Bitcoin is trading at $30,587 at the time of writing, a fractional increase over the past 24 hours.
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Image generated: Midway through the journey
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