Back in 2015, billionaire investor and entrepreneur Tim Draper predicted that Bitcoin would reach $10,000 by the end of 2017. In April 2018, he made another stunning prediction when he said that the first cryptocurrency would be worth $250,000 by 2022.
In a recent interview with TheStreet, he said that he still stands by his words, and still believes that the price of the digital asset will soon be measured in six figures.
“The price of Bitcoin will rise so much that every investor is simply obliged to buy it when the price declines. Even if the price of Bitcoin falls, I will still stick to my words - by 2022, its price will be $250,000.”
He also said that he is aware of the existing problem of hacking of crypto exchanges and the large number of scammers in the market, but he is confident that the technology behind Bitcoin is reliable and stable.
"A lot of hacks happen in the crypto market, but the Bitcoin blockchain has never been hacked, and I don't think it will ever happen. In fact, I'm more comfortable with my Bitcoin than with the dollars I have in Wells Fargo."
The blockchain revolution will be bigger than the internet boom, he said, as it will span trillions of dollars of industries rather than billions of dollars as it did with Internet.
We are on the threshold of something greater than the Internet itself, the billionaire is sure. In his opinion, the Internet pursued the goals of information, communication, games and entertainment. These are industries whose capitalization ranges from $10 to $100 billion. Now the area of finance is undergoing changes. This industry covers trade, banking, insurance, and real estate. Additionally, even medicine and healthcare will change thanks to smart contracts.
If Draper is right, and the field of finance will change thanks to blockchain, it is not hard to believe that the price of Bitcoin will still reach $250,000.
According to zycrypto.com
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