Tim Draper, a recognized venture capitalist and investors, said that he would eat a raw egg if Bitcoin (BTC) doesn’t hit $250,000 by early 2023. During the last years, several experts provided a wide range of price predictions for Bitcoin. However, just the most conservative predictions where those with better results.
Could Bitcoin Move To $250,000?
Tim Draper has suggested many times that Bitcoin could eventually reach a price of $250,000 by the end of the year 2022. Despite the fact that we are far from this price level, he remains confident this is going to happen in the future.
During the Virtual Blockchain Week, he stated that one of the catalysts of Bitcoin adoption will be benefits it provides to retailers. Indeed, they will see that they will not have to pay the fees they were paying before for every single purchase they made.
Regarding his prediction, he commented:
“That’s my prediction. Sticking with it. I’m very confident that that is going to happen. That’s happening. It’s kind of funny.”
He has also said that he would eat a raw egg if Bitcoin doesn’t reach $250,000 as he expects. This is similar to what John McAfee promised if Bitcoin doesn’t hit 1 million by the end of the current year-
Bitcoin has been attracting a large number of individuals and users from all over the world. However, the recent COVID-19 crisis has affected Bitcoin and its price. What it seemed to be a new bull market ended up falling with the spread of Coronavirus.
At the time of writing this article, Bitcoin is the largest cryptocurrency in the market. Indeed, it has never lost its position to another digital asset. It has a valuation of $142 billion and a price per coin of $7.760. In order for it to reach $250,000, it would have to grow by 3.121% in the coming years.
In addition to it, Bitcoin will need to continue growing and expanding all over the world. More companies should start accepting Bitcoin and users should use the digital asset to pay for goods and services. If this doesn’t happen, another possibility would be to wait for the upcoming halving event and see whether it will have a positive effect on the price of Bitcoin. In two weeks, Bitcoin will be reducing the new issuance of Bitcoin by half.