Tim Draper Bitcoin Prediction Remains Same

Story-Divya Sinha

Earlier, renowned billionaire Tim Draper predicted Bitcoin's price could reach $250,000 by the end of 2022.

But at the Web Summit tech conference in Lisbon in early November, he said it would take until June 2023 to make it happen.

Even though digital coins have fallen more than 60% this year, Draper’s prediction remains the same for Bitcoin.

Draper told CNBC via email that he has extended the prediction by six months and $250k is still his number.

FTX debacle has shocked the crypto market and raised questions about the adequacy of existing cryptocurrency regulations.

For Draper's prediction to come true, Bitcoin would need to surge about 1,400% from its current level of about $17,000.

At the press time, the BTC price is $17,307.29 USD.