Speaking in an interview with Yahoo! Finance on Aug. 9, Serial VC investor Tim Draper says that Bitcoin will hit $250,000 by 2023 but its status as a safe haven asset could see investors waiting a little longer than planned.
“Bitcoin is consolidated more than I thought it would. I thought there would be many more competitors at this point that were really relevant, but people have consolidated towards Bitcoin because it’s decentralized,” he told the network.
The Bitcoin consolidation has seen wider support this week as the fallout from instability in China spurs what many commentators are describing as a flight into Bitcoin.
Tim Draper is well known for his Bitcoin price prediction, something he has repeated multiple times over the years.