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Venture capitalist Tim Draper has now extended his oft-repeated $250,000 Bitcoin price target to the current year.
In a recent post on X (formerly Twitter), the world-famous investor has forecasted that 2026 will be the year his elusive target is "finally reached."
The billionaire has called for a "bonanza year," during which cryptocurrency will finally go mainstream. This will be accompanied by a wave of futuristic technological breakthroughs.
The $250,000 Bitcoin target
Draper’s infamous $250,000 Bitcoin price target is definitely an enduring one. It was originally made in 2018 with a 2022 deadline. Back then, Bitcoin was trading around $8,000 after plummeting from its 2017 high of $20,000.
Draper argued that the flagship cryptocurrency would become widespread globally, going as far as replacing fiat currencies for daily coffee-buying usage.
He believed the price would explode once women moved beyond holding Bitcoin wallets to actually using them for commerce, given that they control roughly 80% of retail spending.
In November 2022, Bitcoin plummeted to $16,000 after the stunning collapse of the FTX exchange. Draper conceded that his 2023 timeline was no longer realistic.
He extended the prediction to June 2025, blaming the delay on "heavy-handed" regulation and the suppression of innovation by U.S. authorities.
Draper would then reaffirm the $250,000 target throughout 2024 and 2025.
A "bonanza" for tech
Draper’s optimism for 2026 extends far beyond Bitcoin. He described the year as a convergence point for several sci-fi technologies becoming reality. These technologies include space travel, biotech, and autonomous transport.
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