Tim Draper Doubles Down on His $250k BTC Prediction

Tim Draper Doubles Down on His $250k BTC Prediction

Tim Draper: If BTC doesn’t hit $250k, I’ll eat a raw egg

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Speaking at Virtual Blockchain Week, famed venture capitalist Tim Draper confirmed that he is sticking to his six-figure Bitcoin (BTC) price prediction.

Back in 2018, Tim Draper made a bold public call that the price of Bitcoin would reach $250,000 by the end of 2022 or early 2023. As of today, he’s sticking to it:

“That’s my prediction. Sticking with it. I’m very confident that that is going to happen. That’s happening. It’s kind of funny.”

He cites a couple major reasons that might drive that kind of price action. Draper believes that theUS government’s massive stimulus package will debase the value of the dollar and “send people to crypto.” He also expects that Bitcoin will see massive commercial adoption around the world within this timeframe.

“All of the sudden, the retailers say, “Oh, you mean I don’t have to pay 2.5-4 percent to the banks every time somebody swipes a credit card?”

Draper says a company called OpenNode (in which he invested $1.25 million) can help make it happen. OpenNode is building a Bitcoin payment gateway on the Lightning Network, known for extremely fast BTC transaction settlements.

In time, Draper believes such services will prove their competitive advantage over the the conventional players — credit cards — and will steal market share from them the same way as MasterCard and Visa took market share away from then-dominant American Express. 

Draper also jokingly promised to eat a “raw egg” if his prediction falls short — an allusion to a more savage promise made by John McAfee

With the halving countdown looming, there’s rising mainstream attention on Bitcoin’s price movements.


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Tim Draper: If BTC doesn’t hit $250k, I’ll eat a raw egg

‘I Guess I’ll Have to Hodl It’ -— Peter Schiff Admits Having Bitcoin

‘I Guess I’ll Have to Hodl It’ -— Peter Schiff Admits Having Bitcoin

Gold bug feels the warmth of bitcoiners after $1,500 in donations

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Veteran gold bug and bitcoin (BTC) skeptic, Peter Schiff, has taken delivery of $1,350 worth the cryptocurrency after the industry sent him donations on July 4.

Schiff, who is well known for warning investors not to trust bitcoin as replacement for gold, triggered the goodwill gestures after becoming the topic of a Twitter debate with Morgan Creek Digital co-founder, Anthony Pompliano.

Pompliano (also known as Pomp), highlighted the fact that Schiff in fact does own some BTC despite his negative comments. 

Schiff responded that it was a token amount given as a gift – just $100 – after which Pompliano requested his BTC address in order to double it. 

Others subsequently followed suit. At press time Friday, Schiff’s wallet contained at balance of $1,350 (0.124 BTC) after 52 transactions. 

The SchiffGold CEO thanked Pompliano and others when his balance still totalled just $130.

“I guess I’ll have to hodl it and go down with the ship,” he said.

Those comments ran in stark contrast to his infamous recent exchanges with bitcoiners and an appearance on a live debate with ‘The Bitcoin Standard’ author, Saifedean Ammous. 

“It doesn’t matter how high the price of Bitcoin rises unless you sell. Every buyer must eventually sell to realize any benefit from the rise,” he wrote about bitcoin’s current bull run last week.

Signs Schiff is in fact not entirely anti-bitcoin, meanwhile, have been evident for some time. Schiff Gold, for example, even offers it as a payment method.


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Gold bug feels the warmth of bitcoiners after $1,500 in donations