Venture capitalist Tim Draper has released his most aggressive Bitcoin prediction to date.
In a recent social media post, he predicted his wealth would reach $250,000 within six months and eventually surge to $10 million, surpassing the US dollar.
$10 million “Endgame”
Draper’s final thesis is about currency substitution. He argues that the dollar’s share will “continue to shrink” due to inflation and debt.
The $10 million figure is a long-term goal. His immediate focus is on a rapid 2.5x increase from current levels to $250,000 by mid-2026.
Draper cited the end of the “misguided administration” as the green light for the next step. He is, of course, referring to the regulatory push of the past few years.
History of $250,000 prediction
Mr. Draper is famous for his high-stakes price negotiations, but the road to $250,000 was a difficult one.
Standing before the crowd at his Draper University wearing a purple Bitcoin tie, Draper famously predicted in 2018 that Bitcoin would reach $250,000 by 2022. At the time, Bitcoin was trading at around $8,000.
However, the FTX collapse in late 2022 and macro headwinds plunged the crypto market into the dead of winter, with Bitcoin trading near $16,000.
The billionaire acknowledged the timing was off, but declined to change his price target. He blamed “bureaucracy” and the SEC’s “enforcement regulation” for stifling innovation and slowing institutional adoption, and extended the deadline to mid-2023 and then to 2025.
Now, with Bitcoin trading up significantly and the regulatory cloud lifted, Draper believes his original goal is finally on the horizon, giving him “six months” to make it happen.
“Crazy” Call Achievements
Despite the $250,000 delay, Draper’s track record has garnered attention. In 2014, when Bitcoin was trading at around $180, Draper predicted that Bitcoin would reach $10,000 by 2017, but most people dismissed that as fantasy. Three years later, in November 2017, Bitcoin breached the $10,000 mark.
Draper purchased approximately 30,000 BTC from a US Marshals Service auction (assets seized from Silk Road). He paid approximately $632 per coin, which was above the market price at the time.
