One Bitcoin will reach 4 million dollars, says Tim Draper

25 Mar, 2019 | Updated: 25 Mar, 2019
by Alberto Arnaldo
Opinion
One Bitcoin will reach 4 million dollars, says Tim Draper

One of the best-known voices in the crypto space, Silicon Valley venture capitalist Tim Draper shared some insights recently with the public regarding his views about the market.

Perhaps the most interesting piece of mind that Draper mentioned was his expectatives in terms of price growth for Bitcoin. According to a quotation by Toshitimes, Draper can be qualified in the hyperbulls group without a doubt:

“My belief is that over some period of time the cryptocurrencies will eclipse the fiat currencies. So we’re looking at about a thousand times on what we’ve got now.”

That estimation would suppose for Bitcoin price to reach levels in the vicinity of $4 million, given that BTC is currently priced at about $4,000. Draper is also hard to rival when it comes to adoption expectatives, as he said that, five years from now, if someone tries to buy a burger or a coffee in McDonald’s or Starbucks using fiat currency, they will get laughed at.

The only question which Draper dodged notoriously was that of when would it be time to call a market bottom and subsequent recovery. Instead of trying to approximate a date, the venture capitalist mentioned how important it is to understand what cryptos are when getting into the market, as revenue-focused investments are not what he advises.

Draper has been very active as of late in his public appearances, both replying to crypto enthusiasts on Facebook and visiting Argentinean president Mauricio Macri. 

Read more: Tim Draper: When you feel like you want dollars, you probably want BitcoinTim Draper to Argentine President: BTC as national currency will attract people

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