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Tim Draper Stands by $250,000 per Bitcoin, Says It Is Modern Inflation Hedge Thanks to Constant USD Printing

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Sat, 07/17/2021 - 11:11
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Yuri Molchan
Tim Draper believes that Bitcoin helps people protect against inflation in the US and in developing countries
Tim Draper Stands by $250,000 per Bitcoin, Says It Is Modern Inflation Hedge Thanks to Constant USD Printing
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Billionaire Tim Draper, a prominent investor, who has supported Tesla, Skype, Hotmail, Twitter, Coinbase and other prominent companies with his money, still believes in his prediction that Bitcoin will hit $250,000 by the end of 2022 or early 2023.

In a recent interview, he has confirmed his bullish take on the near future of Bitcoin, saying that BTC will be getting massively popular as its adoption will be growing.

In particular, Draper stated that Bitcoin is about freedom and trust. The particularly string effect made by BTC has recently been felt in Argentine and Nigeria, as per him, where are the local currencies have been constantly devaluating.

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As for the US, Draper pointed out that if the government continues to print money, Bitcoin will keep remaining a modern inflation hedge.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.