Tim Draper predicts Bitcoin to reach $250K within six months

Venture capitalist Tim Draper has renewed his bullish outlook on Bitcoin, predicting the cryptocurrency will reach $250,000 within six months.

Draper made the forecast following an appearance on the Divot podcast, where he discussed Bitcoin’s long-term potential against the US dollar.

“Bitcoin against the dollar is a really good bet,”

Tim Draper said.

In a post on X, Draper reiterated his view that Bitcoin’s growth will eventually undermine the dominance of the US dollar.

Draper recalled purchasing his first Bitcoin at $4 before losing his holdings in the Mt. Gox collapse.

“I bought my first bitcoins at $4, lost everything to Mt. Gox and bought back in at a US Marshals auction when I paid over market at $632,”

Tim Draper said.

He noted that earlier predictions, including a $10,000 Bitcoin price by 2017, were initially dismissed but later materialised.

Draper said his subsequent forecasts were delayed by what he described as misguided government intervention.

“Now I’m calling $250,000 in six months and then $1 million, $2 million, maybe $10 million before Bitcoin eclipses the use of the dollar,”