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- Billionaire Tim Draper foresees Bitcoin to smash up 600% plus by 2022: $250,000
- Bitcoin Bull Rally sets Banks in a state of Insecurity as Bitcoin becomes a Value Store
- Popular Names in the Crypto World presume BTC may hit $1Mn quickly!
Silk Road Bitcoin Auction Winner and Venture Capitalist Tim Draper claim that the Banks are anxious as Bitcoin becomes the Digital Store of Value. He foresees BTC price to soar above $250,000 by the year 2022.
Bitcoin Tanks 18%
Tim Draper is the founder of Draper Fisher Jurvetson and a venture capital investor. Following Bitcoin’s 18% fall in the share market, he tweeted that banks dislike Bitcoin, attributing the reason to Bitcoin making the financial institutions seem irrelevant. He accuses banks of attempting to manipulate Bitcoin’s performance, establishing that the cryptocurrency will reach the value of $250K by the end of 2022 or the beginning of 2023.
The VC owned nearly 30,000 Bitcoin worth $19Mn seized from the Silk Road back in 2014, worth $105Mn at present. The Multi-Billionaire backs various tech start-ups like Skype, Twitter, Ring, and cryptocurrency.
BTC suffered a severe plunge, with a valuation of $32,389 today. This is a significant drop since BTCs reign in the last week. The reason behind this drop could be attributed to the broader increase in the dollar’s holding against major fiat currencies, which comes at the behest of a pending increase in interest rates in the U.S.
Tim Draper, A Good Soul!
The Billionaire is involved in some philanthropy works. Recently he started supporting American Dream Funds so that students can break the cycle of poverty and create a new legacy for their community.
Tim also created Bizworld, which is an organization for the welfare of children. It provides underprivileged flock an exposure to world-class education and global entrepreneurship opportunities.
Popular Crypto Investor opinion on Bitcoin
Howard Wang, the co-founder of Convoy Investments LLC, commented about the ongoing situation through a note, saying that Bitcoin is undoubtedly living in a separate bubble and the current growth rate experienced by the cryptocurrency is “not sustainable.” The future increase in BTCs price may occur, but it would continue to remain a mostly speculative asset, he added.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
