Billionaire venture capitalist Tim Draper says he believes Bitcoin will rise more than 230% from current levels.
In a new post on X, Draper reflects on his early experiences with Bitcoin and the events that shaped his long-term conviction.
he He says Its initial exposure was worth around $4, before major setbacks including the Mt.Gox hack.
Despite those early challenges, Draper says his confidence was boosted after observing real-world use cases.
“It turns out that Bitcoin was being used to transfer money, pay wages to unbanked employees, and create economies where there were none…
So when I heard about the US Marshalls auction, I bid at the market price of $632 and bought all nine lots offered.
Draper admits his bullish goals have yet to be achieved, but says he remains confident in Bitcoin’s trajectory.
“I have reason to believe that Bitcoin will reach $250,000 in 18 months. Bitcoin is rising and the dollar is falling due to inflationary pressures.”
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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should conduct due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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