Tim Draper says bitcoin might hit $250,000 within 18 months
Billionaire investor Tim Draper says bitcoin might soar to $250,000 within the next 18 months, thanks to rising inflation and a weakening dollar.
Even after setbacks like losing his coins in the 2014 Mt. Gox collapse, Draper has stayed optimistic about bitcoin's role in making payments easier, especially for people without access to traditional banks.
Draper bought nearly 30,000 bitcoins
Draper famously bought nearly 30,000 bitcoins at a government auction back in 2014 and has a mixed track record of crypto predictions (he called bitcoin's rise to $10,000 by 2017).
He believes inflation is pushing more people toward bitcoin, saying, "I have reason to believe that Bitcoin will reach $250k in 18 months... and eventually I expect the number to be higher as Bitcoin rises and the dollar falls to inflationary pressures,"
As of today, bitcoin is trading around $74,000—a big jump would be needed for his forecast to come true.
Other crypto leaders are also watching this milestone closely.