Tim Draper: Bitcoin may rise to $10 million! Previous predictions were inaccurate

Tim Draper, the well-known venture capital godfather in Silicon Valley and founder of Draper Associates, is an early investor in Bitcoin. He once correctly predicted that Bitcoin would exceed $10,000 in 2017, and he recently accepted In an exclusive interview with the Podcast program Searching for Mana, the words were shocking, saying that Bitcoin will rise to unimaginable levels: Bitcoin reaching US$250,000, US$1 million, US$2 million, or even US$10 million are possible numbers. There are several reasons for this… When you can buy food, clothes, shelter, and pay all your taxes with Bitcoin, it’s a done deal. You won't want to use any other currency.

Bitcoin just completed its fourth halving in history at 8:09 yesterday morning at block height 840000. The block reward was reduced from 6.25 BTC to 3.125 BTC. Mentioning the halving event, Tim Draper believes this will allow Bitcoin prices to surge again.

Due to the great success of the Bitcoin spot ETF after being approved for listing in January this year, the price of Bitcoin has reached a new historical high before the halving, which is different from the previous halving cycle. Therefore, , Tim Draper described ETFs as "fuel boosters" that he didn't predict.

Tim Draper told Cointelegraph ahead of fourth halving that Bitcoin halving will help push Bitcoin "to $250,000 or higher": Bitcoin price rises after halving The reason is simple, that is, in the free market, under the pressure of declining supply and rising demand, the price of Bitcoin will naturally rise.

Prediction of reaching $250,000 in 2022 is inaccurate

It is worth noting that Tim Draper has previously predicted many times that Bitcoin will reach $250,000 in 2022, but this prediction was later proven Totally inaccurate. Tim Draper had something to say about this. He explained on the Searching for Mana program that the reason for the inaccuracy was "my arrogance got the better of me."

Tim Draper said that there are many reasons why Bitcoin did not reach $250,000 in 2022. The first is that regulatory agencies launched strict actions against the currency circle after the epidemic. The second is that he believed that Bitcoin payments will Predictions of becoming common in 2022 did not materialize: it was these two factors that slowed down progress to $250,000.

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