In a press conference, Tim Draper, Chairman Of CAL 3 and Venture Capitalists has said that he is pretty sure that the value of Bitcoin will reach to $250,000 by the end of the year 2022 or the beginning of the year 2023. The announcement was made after the Venture capitalist Tim Draper said that he had gathered about 600,000 signatures on a petition to put his proposal to divide California on the November ballot, more than the 366,000 needed to qualify. To partition California is his long time demand and this is the third time he is trying again for this.
CAL 3 Chairman Tim Draper Says Bitcoin Value To Reach $250,000 Soon
Despite the ups and downs in the crypto market, the billionaire is very confident about his prediction on Bitcoins. He says “I think I’m going to be right on this one”. Earlier also in the year 2018, the Venture Capitalist made a bold statement when the Bitcoin was trading at $8,000. In addition to this, he said, “I am either going to be really right or really wrong (but) I’m pretty sure that it’s going in that direction.”.
He is confident that Bitcoin will be used more for trading. He predicted this saying, “Give it about a year and a half and retailers will all be on Opennode, so everybody will accept Bitcoin”. Let us tell you that by virtue of its code, only 21 million Bitcoin can be mined and out of this number, 18 million Bitcoin are already circulating in the market.
As per some sources, major companies like Microsoft, Tesla, Paypal, Starbucks, Overstock and many more, all of these do trading with Bitcoins directly or indirectly through a third party digital wallet app. Draper said that he believes that Bitcoin is going to be the soul of all the major financial activities in the coming decades.
However, the down fall in the crypto market after Musk’s statement has made the investors to worry about investing on Bitcoins. In the year 2014, Draper bought 30,000 Bitcoins which were seized by the US Marshals Service.
Today, on 16 June 2021, according to a website coindesk.com, Bitcoin is trading at $40,203.36, a downfall of 0.30%. For more updates on crypto market, stay in touch with the page.