American investor and billionaire Tim Draper returned to commenting on his theories about the future price of Bitcoin. This time, during an online conference last Tuesday, he evaluated two scenarios that could push the world’s largest cryptocurrencies to $250,000 over the next two years.
“I think we’re on the right track,” said Draper during the ‘Benzinga Crypto Festival’ webinar, then describing the first scenario he envisions.
For the entrepreneur, one of the trends is the widespread adoption of Bitcoin, whose scenario is the use of cryptocurrency in common with fiat currencies. He believes that this way he can trigger a feeling in people capable of making such changes.
A second trend that the billionaire believes could take 1 BTC to US$ 250,000 may occur due to the high inflation rates that worry many countries around the world. In the US, for example, constant dollar impressions influence the inflation rate; in Argentina, the peso increasingly loses to the US currency due to inflation.
Draper even predicted when these trends might be real; at the end of 2022 or beginning of 2023.
The 63-year-old Californian made his name in the cryptocurrency market as a bitcoin visionary at a 2014 auction. Confident in the technology at the time, he fetched 30,000 BTCs (seizures from Silk Road by US Justice) for $18 million. At the time, the unit was quoted at US$650. This amount is currently valued at US$1.4 billion.