Bitcoin Will "Go" Up To $250,000! – Tim Draper


 Although the crypto market suffered a drastic fall due to the FTX crisis, Tim Draper, the billionaire venture capitalist of the United States (US) fully believes that the mother of all cryptocurrencies, Bitcoin (BTC) is about to make a comeback.

Earlier, Draper predicted that the digital asset would be able to break through the $250,000 price zone by the end of 2022, but his prediction was wrong after the price is still below the $17,000 level.

Despite that, he is confident that BTC will reach $250,000 after the crypto market recovers and women will begin to take advantage of cryptocurrency in shopping activities as they reportedly account for 80% of total retail spending.

In fact, the number of women controlling BTC wallets also doubled at 16.6% compared to the previous $7.14%.

Apart from that, Draper also stated other reasons that can push the digital asset to climb higher.

Among them are merchants or companies such as South African supermarkets that accept BTC and other cryptocurrencies as payment options are already on the rise even though BTC has shrunk more than 75% from its peak of $70,000 in 2021.

In the meantime, he expressed his desire to further explore crypto and may act to test a basic income system (UBI) or BTC-based taxation.