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Tim Draper Continues to Stand by His $250,000 Bitcoin Price Prediction

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Sun, 1/01/2023 - 16:54
Tim Draper Continues to Stand by His $250,000 Bitcoin Price Prediction
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Tech mogul Tim Draper has recently addressed his oft-repeated prediction about Bitcoin reaching $250,000 by 2023.

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While the cryptocurrency hasn't made it that high yet, he is still optimistic that this prediction will come true before the upcoming halvening.

The billionaire venture capitalist and crypto enthusiast revealed that he wore a T-shirt with the slogan "250K by 2022" illustrating his faith in the digital currency.

Halvening is an event that rewards those who mine Bitcoin with fewer coins than before, adding to the cryptocurerncy's scarcity. Such an event typically encourages more people to join the market due to anticipated price appreciation. 

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Draper is a long-time supporter of Bitcoin. He has been an advocate of decentralized digital currencies for many years and was one of the earliest investors in Bitcoin. In 2014, he bought up nearly 30,000 bitcoins in an auction held by the U.S. Marshals Service, which were seized from Silk Road—the underground black market website founded by Ross Ulbricht.

Draper believes that Bitcoin can help individuals increase their financial sovereignty, bringing ‘unbanked’ people into the world economy.

As reported by U.Today, the venture capitalist has repeatedly stated that women would be able to push Bitcoin above the 2023 mark.  

The venture capitalist is known for making successful investments in early-stage startups such as Skype and Tesla. To date, he has invested in over 200 companies working on disruptive technologies ranging from alternative energy to healthcare, fintech, and more.

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