Famous venture investor and cryptocurrency enthusiast Tim Draper recently showed up at Web Summit, an annual technology conference hosted in Portugal. He forecasted in the event that Bitcoin, the most prominent cryptocurrency, will be able to reach $250,000 by January 2023.
NEW: #Bitcoin will reach $250K by the middle of next year – Billionaire Tim Draper
— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) November 4, 2022
Female Investors can Surge Bitcoin Price
Draper is still confident that female investors can drive the price of the crypto king up to his target. The venture entrepreneur, an early investor in firms like Hotmail and Skype, speculated that female Bitcoiners would considerably increase the biggest cryptocurrency’s user base.
Women own 51% of U.S. wealth, according to New York Life Investment Management’s study. Before the demise of the dark web marketplace Silk Road, Draper bought thirty thousand bitcoins using funds confiscated by the United States Marshals.
Three years later, he was right about the price of the biggest cryptocurrency in the world. By the end of 2017, Bitcoin’s price was getting dangerously close to $20,000. Draper forecasts that Bitcoin’s price will reach $250,000 by 2023.
To achieve that goal, the leading crypto would need to increase in value by 1,090%. Even during the next six months, it is pretty doubtful that the leading crypto will be able to achieve the aforementioned price level.
After reaching an all-time high of almost $70,000 in November last year, Bitcoin sells for a little over $21,000. To the contrary, Draper claims he is unconcerned by market downturns.