Tim Draper was and always is bullish when it comes to Bitcoin and cryptocurrencies as his prediction that Bitcoin will hit $250,000 in 2022 still stands strong as he firmly believes in it.
Draper spoke about the current market crash cycle that is being experienced by people in the crypto-ecosystem by giving his insights and predictions, in an interview with Cointelegraph.
According to Draper, the fluctuation was normal despite people trying to manipulate the market and move it in their favor. Although the crypto-market follows the FUD and FOMO from the mainstream media, Draper said that he looks at this crisis as an opportunity to buy into the market.
He further added:
“This [Bitcoin] is it’s just better currency. So it’s just a matter of time before the world adopts the better currency. And I think it’ll be as soon as I can do everything with my Bitcoin that I can with my dollars. And then everyone’s going to start looking at it and say, why do we even deal in dollars when we have Bitcoin? It’s so much easier.”
With Bitcoin there is less friction and there aren’t added or extra fees that has to be paid to a central controlling authority or even deal with inflation, Draper explained. He proceeded with his prediction for the future saying:
“I have a pretty good idea that the Bitcoin price in 2022 or 2023 is going to be about $250,000 and that’ll be two things at work. One is that the dollar will decrease in value relative to crypto. And the other is that Bitcoin will take a larger and larger market share of all currency around the world.”
Furthermore, Draper said that the future for Bitcoin is very good and that one had to be realistic and not a pessimist to adopt Bitcoin, which is going to be a major currency of the world in the future.
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