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Venture capitalist Tim Draper predicted on Tuesday that Bitcoin (CRYPTO: BTC) will reach $250,000 in 18 months, and potentially higher, owing to inflationary pressures on the dollar.
Draper Remains Bullish
Draper recalled his accurate 2014 prediction on Fox Business that Bitcoin would hit $10,000 in three years.
The billionaire investor acknowledged that his subsequent predictions have not been as “prescient,” but he has “reason to believe” that the leading cryptocurrency will climb to $250,000 in 18 months.
“Eventually I expect the number to be higher as Bitcoin rises and the dollar falls to inflationary pressures,” he added.
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