Tim Draper Envisages Bitcoin at $250,000 Taking 5% of Global Market Share by 2023
The notoriously bullish VC investor is waiting for bitcoin to continue its parabolic uptrend as he notes his tenfold profits.
“It’s going to keep going because, I’m a believer than in four years, something like that, bitcoin will be about a 5% market share of the Earth,” he told the network. Draper added:
“It’s a better currency, it’s decentralized, open — it’s transparent; everybody knows what happens on the blockchain.”
Appearing in his now trademark bitcoin tie and socks, Draper added that he envisioned running an entirely bitcoin-dependent company, where transactions used it exclusively.
“I eventually want to have a fund where I take in bitcoin and I fund everybody in bitcoin and they pay their employees and suppliers in bitcoin and then I pay my investors in bitcoin,” he continued. Draper then stated:
“Because I would then require no accounting, no legal, no bookkeeping, no custody — it would all be done.”
Draper, who is also a major supporter and investor in smart contract and decentralized application platform tezos (XTZ), previously made one of the industry’s most bullish predictions for the Bitcoin price, in November claiming that by 2023, a single coin would be worth $250,000.