Venture capitalcapitalistTimDraperreaffirmed his prediction that the price of Bitcoin [BTC] is estimated to reach by $250,000 USD by the year 2022,duringapanel discussionatthe ‘WebSummit’ summit conference on 6th Nov.
Draperprimarilyforetoldthat the price of Bitcoin [BTC]wouldsurge up to $250,000 USD in the month of Aprilby this year. “Believe it, it’sprogressing tohappen – they’regoing toassumeyou’re crazyhoweverbelieve it, it’s happening, it’sgoing tobe awesome!,”Drapersaidthen.
When asked at the recentwebSummit conferencewhether or nothe still thinks the Bitcoin [BTC]worthwould expertiseafortytimesreturnduring aspanof 4years and reach $250,000 USD, Draper added:
“Yes.We aretalking […]regarding5%market shareto induceto $250,000 USD. Thatappears likea drop in a bucketand allwe’d liketo actuallydo isbuilditso thatBitcoin [BTC]are oftenused topurchaseStarbucksbeverages,and all of a sudden the worldsimplyreleaseand sothey assert‘I’ve got thisselection.’ […] Doi would likea currency that l cantake from country to country […] or doi would like one that sticksmein one country or oneregionand ican’t use itanyplaceelse?”
Draperconjointlyquestionedthe requirementforthe fiatcurrencies or “political currencies,” stating “whydo we even trust currencies thataredetermined by some weirdorganizationor another?” In Draper’spoint of view, banks issuemoney “whenever theywantit forno-matter what’sthe reasonbehindit,”and also theemergence of a “totallyapolitical,” global, and open currency would cedemanagementof moneyfrom banks tocommon individuals, he explained.
Speaking at the GovTech Pioneers conference earlier inMay,Draperconferredhis vision of a futureduring which blockchain utilizingsensible smartcontracts in conjunction withAIcanmassivelyamendthe role and responsibilities of states. “Ifwe mixBitcoin [BTC], blockchain withsmartcontracts andAI,we may producethe rightbureaucracy,” he added.
Earlier inSept,Drapercreatedanother prediction,statingthatthe totalcryptocurrencymarket capitalisationis expected tohit $80 Tlnwithin thenextfifteenyears.Draperargued thatthis significantslidewithin the cryptocurrency market in previous months is attributed topeople thathad not adopted digital currencies asa newqualityasset category.Draperadded:
“Cryptocurrencywouldgotrilliondollarmarkets — thesearefinance,health careand insurance, banking and investment banking, and governments.”