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Tech billionaire Tim Draper, an avowed cryptocurrency bull, has set a $250,000 bitcoin price target for 2022.

Draper made the bold prediction April 12 at the 2018 Block (Chain) Party at his self-named Draper University in San Mateo, California.

“I’m thinking $250,000 a bitcoin by 2022,” Draper said (via Reddit). “Believe it. They’re going to think you’re crazy, but believe it. It’s happening and it’s going to be awesome!”

Draper has a fairly good track record for predicting bitcoin price movements, so market observers aren’t taking his bullish forecast lightly. In 2015, the venture capitalist accurately predicted that bitcoin would top $10,000 by the end of 2017. BTC prices soared above $13,000 on December 31, 2017.

‘Blockchain Is Transformational’
Draper also predicts that blockchain will disrupt and transform finance, healthcare, and many other industries. “It’s honest, it’s straightforward, it’s incorruptible, and it’s fair,” he said.

Shortly before the Block (Chain) Party, Draper signaled his unwavering confidence in blockchain, the technology undergirding cryptocurrencies.

“The blockchain is one of the most transformational technologies that has happened in the history of the world,” he told the San Mateo Daily Journal. “And it is totally worth celebrating.”


Tweet: https://twitter.com/AlexMoskov/status/984642159155580930

Draper isn’t the only billionaire who’s betting big on blockchain. The Rockefeller family (estimated net worth: $1 trillion) has partnered with the cryptocurrency investor group CoinFund to help entrepreneurs launch blockchain-based businesses.

David Pakman, a partner in Venrock — the venture-capital arm of the Rockefeller family — said his VC firm is not interested in turning short-term profits, but in making  a long-term investment in blockchain.

“There are a lot of crypto traders in the market,” Pakman said. “There are a lot of cryptocurrency hedge funds. This is different. To us, it looks a little bit more like venture capital.”


Read more: https://www.ccn.com/billionaire-tim-draper-sets-250000-bitcoin-price-target-for-2022/

McAfee was predicting 1 million by 2020, and he did something terrible ..))
I think that 250 or even 500k is real by 2022, but only if countries wouldn't intervention tough in the regulation and other processes related to cryptocurrencies. If the market will be enabled to develop freely, for sure, we will see not only 250 k in 2022.

John McAfee is really nuts when he predicted that it will go as high as 1 million. I'm sure its just a publicity stunt (specially his dick eating) and trying to really push the price of bitcoin to the next level. As for Tim's prediction, he is very bullish as anyone here in the forum, but we will have to see. We still have like 4 years to watch the market grows. I'm not questioning his prediction, but the ecosystem will literally needed a lot of cash in the next 4 years to really push that price to even 6 digits. The only source of that is the gold investors, if they suddenly shifts their funds to the ecosystem, I'm sure that can at least get half of his prediction. Going to be one hell of a ride if we even touches $100000.

At some point there will be a massive shift of funds from every asset and industry to Bitcoin, which is just a matter of time. Bitcoin gains more credibility as years go by and that comes with more capital allocation.

The thing with this market is that even a few billion in fresh capital can make it shoot up big time. It's still an undeveloped market after all, and as long as that is the case, the increases we go through will be significant.

If central banks will start stocking up Bitcoins as well, which might already be happening, the market will dry out even further. If we look at the last years, the availability of coins has already decreased a lot and we're not done yet.

It was already difficult to accumulate even 1BTC for people in the last years, but that's only going to become more of a difficult target. At some point you may be part of the elite with 1BTC in holdings.

I reckon it is not a coincidence that bitcoin was pumped to $8000 and then Tim Draper's releasing of his prediction to the press. He may be the person behind both the pump and the news articles.

This is dangerous because the growth in price from hype would be artificial. The December crash reminded us of that. But if all you care about is the price then go ahead, believe it all you want.

I agree more with the $250,000 target than the $1M target. Timp Draper's predication is more realistic.

If you can believe anyone in financial world - then Tim Draper is one of the first.
Besides, he must have his own reasons - why..

I'm also counting more on Draper's opinion; we understand that nobody can make an accurate forecast, but there are people with good instincts who feel the market and Tim Draper belongs to them. He saw the bitcoin's prospect when it cost 300 dollars and predicted 10,000, and he sees it now with a price of 8,000.

Its only 4 years until we find out how accurate his prediction will be.  When I look back on the coins I bought 4 years ago I would have only hoped to have a coin be worth 8000 bucks today.  I have a stash in cold storage and my plans are to ride this thing for another 10 years.  I'll either be wealthy or totally broke, but not likely anything in between.  [cross fingers]

He's emphasized a few times that his prediction hinges on Bitcoin radically devaluing the USD which is a ridiculous idea in two and a bit years. People have been predicting its demise forever. It still looks pretty perky to me.

$250,000 by 2022 feels radical but just about conceivable. I certainly wouldn't bank on it but equally I wouldn't be totally astounded if it did occur.

well he certainly has a vested interest . . .

"In 2014, Draper made headlines after buying 30,000 bitcoins for $600 apiece"

and his prediction if it lands will certainly be something to make headlines all over.

Its really hard to figure, a lot of water has to pass under the Bitcoin bridge between
now and 2022. It doesnt seem like an awful long time, 4 years, I find it hard to believe.

And his $10,000 prediction all the way back then turned out to be on the money.

Timing aside, $10,000 was a relatively risk free prediction to make, albeit still very ambitious. $10,000 is high but still a long way from world beating. I never understood why it was the dream figure for so many people. A $160-170 billion market cap is of course huge but still not all that epic in global terms.

$250,000 is serious shit but it could be argued that the haul from $0 to $10,000 was the hard and tenuous part.

Bitcoin itself can hit every price you can imagine, the only reason it wouldn't be like this is government and its actions towards banning crypto

I even heard about $1 mln price of bitcoin. Kinda of unreal, but expectations are positive! Nice that such people see bitcoin going up

possible in two scenarios only:
1.bitcoin adoption is shooting through the roof,almost all major chains,companies,banks etc. accept bitcoin
most of the countries recognise it is an asset and it is traded alongside oil,gold,silver and so on
2.us dollar takes a grand nosedive due to a war,default or any other reason,fiat currencies are no longer seen as the only legal tender

both scenarios are higly unlikely in this short amount of time to happen,but never discount a black swan event that could change the whole landscape
to predict is to rule,so be prepared for any scenario
and of course,he is a bull,so it is his job to make outlandish predictions like that

PREdiction is stil a prediction,i will never trust prediction for not to have falls hope..this "geniuses" always keeps on talkinh but the truth is what they says are purely to favor their own intentions this are all beneficial to them..theres only one things that keeps in mind that "i will cross the bridge wh i get there"so i wint feel failure if thing dont come my way

I wouldn't say this is pure a exaggeration by Tech billionaire Tim Draper on the predicted price of bitcoin  reaching $250K in 2022, because he had emphasized his  reasons particularly on blockchain transforming many aspects of health, finance e.t.c invariably more adoption by this industries will triggers the price going upward.

All is possible, if someone categorically believes that this is impossible, then go back 4 years ago and imagine something someone tells you that bitkoyn will cost $ 20,000...