Home » Tim Draper still positive on $250K Bitcoin price prediction in 2023

Tim Draper still positive on $250K Bitcoin price prediction in 2023

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Billionaire venture capitalist and serial blockchain investor Tim Draper isn’t giving up on short-term Bitcoin (Bitcoin) despite the recent problems of predicting Cryptocurrency industry.

Draper remains firm on his optimistic prediction that Bitcoin will reach $250,000 in 2023 despite the ongoing FTX-fueled crypto crisis.

“Our price forecast remains unchanged. We still have $250,000 by early next year,” Draper said in an interview with Cointelegraph on Nov. 15.

According to Draper, the collapse of the FTX crypto exchange has nothing to do with Bitcoin’s success because Bitcoin is decentralized and FTX was not.

“FTX was centralized and reliant on a single founder,” said the billionaire investor, referring to FTX creator and former CEO Sam Bankman-Fried. “If a currency is centralized, say at a central bank, it has a single point of failure and can also be manipulated,” he added.

According to Draper, the collapse of FTX will only cause more decentralization of cryptocurrencies as the latest events have once again demonstrated centralization’s greatest vulnerability.

“I think this debacle will bring more Bitcoin maximalists. Be aware that your money is not safe in a centralized system, be it crypto or fiat.”

Draper also emphasized the importance of self-management in line with the principle of decentralization. At the same time, he also showed confidence in the centralized exchange Coinbase, stating: Neither have borrowed or invested using my tokens. ”

As Cointelegraph previously reported, Draper was the first to make his famous Bitcoin prediction in 2018, predicting: BTC reaches $250,000 By the end of 2022 or early 2023.

the investor repeated his predictions over and over again Since then, it has ignored the impact of major bear markets and collapses of major crypto exchanges and investment firms.

Related: Bitcoin Will Exceed $100,000 In 2023 Before ‘Biggest Bear Market’ — Trader

However, not everyone is equally optimistic about the price of Bitcoin in the near future. On November 7th, one of his Bitcoin supporters took to Twitter to criticize Draper’s prediction. claiming It is clear that Bitcoin will not reach $250,000 by mid-2023. He also called for learning from the past. Failed Bitcoin Prediction John McAfee deceased.

according to Binance CEO Changpeng Zhaothe FTX debacle set the crypto industry back years ago and brought even greater scrutiny by regulators.

Additional reporting by Rachel Wolfson.