Venture capitalist Tim Draper predicts bitcoin will multiply by 30 times within four years.He made the forecast Thursday evening at his "Draper Block(chain) party" in California.
Draper tweeted early Friday morning New York time that he was predicting "bitcoin at $25k by 2022," causing confusion among investors.
But he clarified in an afternoon tweet that $250,000 was the correct figure.
Bitcoin traded near $8,100 on Friday afternoon, up more than 18 percent for the week, according to Coinbase. The cryptocurrency suddenly shot 17 percent higher Thursday morning. Many traders attributed the spike to investors covering their shorts, or buying back into the market after betting against bitcoin.
Fundstrat Global Research's Tom Lee, the only major Wall Street strategist to issue bitcoin price targets, expects the cryptocurrency will reach $20,000 by the middle of the year and $25,000 by the end of 2018.Draper is founding partner of Draper Associates and DFJ, an early investor in Skype and Chinese search giant Baidu.
He bought nearly 30,000 bitcoins in a 2014 U.S. Marshals Service auction, all of which he told CNBC in December he was still holding. If that is still the case, Draper's bitcoin investment is worth roughly $243 million at Friday's prices.
He said on CNBC's "Fast Money" in early March that in five years bitcoin and other cryptocurrencies will be the primary means of payment.
Discover even more on CNBC here: https://www.cnbc.com/2018/04/13/tech-investor-tim-draper-predicts-bitcoin-will-reach-250000-by-2022....
Draper tweeted early Friday morning New York time that he was predicting "bitcoin at $25k by 2022," causing confusion among investors.
But he clarified in an afternoon tweet that $250,000 was the correct figure.
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Tim Draper✔@TimDraper
Oops! I predicted $250k in 2022. My tweet last night was missing a zero. $250k is the number!
7:04 PM - Apr 13, 2018
Twitter Ads info and privacyTim Draper✔@TimDraper
Serious winds (of change) at our block (chain) party last night. Predicting bitcoin at $25k by 2022.
11:36 AM - Apr 13, 2018
Bitcoin traded near $8,100 on Friday afternoon, up more than 18 percent for the week, according to Coinbase. The cryptocurrency suddenly shot 17 percent higher Thursday morning. Many traders attributed the spike to investors covering their shorts, or buying back into the market after betting against bitcoin.
Fundstrat Global Research's Tom Lee, the only major Wall Street strategist to issue bitcoin price targets, expects the cryptocurrency will reach $20,000 by the middle of the year and $25,000 by the end of 2018.Draper is founding partner of Draper Associates and DFJ, an early investor in Skype and Chinese search giant Baidu.
He bought nearly 30,000 bitcoins in a 2014 U.S. Marshals Service auction, all of which he told CNBC in December he was still holding. If that is still the case, Draper's bitcoin investment is worth roughly $243 million at Friday's prices.
He said on CNBC's "Fast Money" in early March that in five years bitcoin and other cryptocurrencies will be the primary means of payment.
Discover even more on CNBC here: https://www.cnbc.com/2018/04/13/tech-investor-tim-draper-predicts-bitcoin-will-reach-250000-by-2022....
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Francisco Gimeno - BC Analyst Tim Draper is always bullish with reference to Bitcoin. After the bearish market of these last months, he again surprises everybody by predicting a very high value for Bitcoin in the future. What can we do when pundits all around debate and discuss about cryptocurrencies going either to the sky or to the floors? HODL? Sell? The debate is there. What do you think?