In 4 Years, The Value of Bitcoin Will Be 250.000 USD
What do you think the value of Bitcoin will be in 4 years? According to Tim Draper, 1 BTC will be 250.000 USD in 2022. You may think that everybody is free to make a guess and you are right. However, Tim Draper is not “anybody”: He correctly predicted the price of Bitcoin will surpass 10.000 USD in 2014. In other words, 4 years ago. Now, he is making another prediction for 4 years after. Mr. Draper is a venture capitalist who founded Draper Associates and Draper University. He is also kind of a vulture: When the Federal Government auctioned the seized Bitcoins from the Silk Road, Mr. Draper purchased almost all of them – 30.000 Bitcoins. He also owned 10% of Skype at one point, which he sold to eBay for 4 billion dollars.
To sum it up, Mr. Draper is a rich person.
In terms of crypto-currencies, there is nothing that shows Tim Draper is a “master”: He was clever enough to buy 30.000 Bitcoins in an auction in 2014 and the same year he “predicted” the value of Bitcoin will surpass 10.000 USD in 4 years. That’s it. After buying a “product”, he said that the value of that product will rise. This is the only “crypto-expertise” of Mr. Draper. Since he is making another prediction, we think that he bought a hefty amount of Bitcoins again.
What Do Other People Think?
Well, first of all, other people make short-term predictions. For example, Saxo Bank thinks that the price of Bitcoin will rise 60.000 in 2018. John McAfee also believes the price will rise but he does not give a specific amount. According to Spencer Bogart (Blockchain Capital Partner), the price will be 50.000 USD before the end of 2018. However, if you ask David Garrity, the CEO of GVA Research, the price of Bitcoin will drop to 5.000 USD this year. The only “expert” that makes a long-term prediction is Mihail Lala, the CEO of Wawlett. He thinks the price of Bitcoin will be 100.000 USD in 2020.
Basically, it is anybody’s guess.
Tim Draper has another prediction for the future: He thinks that “…In five years, if you try to use fiat currency they will laugh at you — bitcoin and other crypto-currencies will be so relevant, there will be no reason to have the fiat currencies.”
Well, we can support that idea. We are also sure that if the value of Bitcoin rises, your winnings at Bitcoin casinos will worth a lot more. Winning 4 BTC may make you a millionaire if Tim Draper is right.
What is your prediction about the price of Bitcoin?