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Is BTC Going To Be Worth $1M? - Says Tim Draper

2 min reading

During an interview with an Israeli news site, Tim Draper maintained one of his forecasts regarding the future price of Bitcoin. In his opinion, it is possible that by 2022 BTC's rate will be amounting to $250,000.

The billionaire added that this is actually a conservative statement. Draper believes reaching such an amount would mean that Bitcoin would be worth about 5% of the global currency market. What is more, as bad scenario as this one would be possible only if people underestimated Bitcoin's power. 

 According to Draper, BTC is a viable alternative to fiat money. In his opinion, lack of confidence in governments and traditional currencies will bring people closer to cryptocurrencies. The billionaire also stated that, in order for its atoption, Bitcoin must be easy to use. There is still a lot to be done in this matter, unfortunately ...

 

Bold forecasts

It is worth noting that not so long ago John McAffe also maintained his opinion on the future Bitcoin rate, claiming that BTC is able to reach $1 million by December 31, 2020. His positive attitude has not faded so far. 

The current price of Bitcoin is rather distant from the vision of both men. Although their forecasts are promising, it is hard to believe at this point that the BTC rate could reach such a level in such a short time.

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