Never one to hide his light under a bushel, billionaire Silicon Valley venture capitalist Tim Draper organized a block-party hosted by his own Draper University in San Mateo, California, to announce his latest and greatest Bitcoin price forecast.
Draper, born in 1958 and founder of the venture capital firm Draper Fisher Jurvetson, is not the usual 20-something Millennial juiced up on the hype surrounding cryptocurrencies, and when asked if he was going to sell his bitcoin, famously responded"
“Why would I sell the future for the past?”
Well as of today, we suspect Draper - who successfully scooped up the entire ~30,000 haul of Bitcoins that the US government seized from Silk Road in 2014 - will not be selling for a long time.
Tim offered this in a statement in 2014:
“Bitcoin frees people from trying to operate in a modern market economy with weak currencies.With the help of Vaurum and this newly purchased bitcoin, we expect to be able to create new services that can provide liquidity and confidence to markets that have been hamstrung by weak currencies.
Of course, no one is totally secure in holding their own country’s currency. We want to enable people to hold and trade bitcoin to secure themselves against weakening currencies.”
And has been a strong advocate for crypto since.
All of which leads us to today's much-heralded forecast for Bitcoin.
"I’m thinking $250,000 a Bitcoin by 2022," he said, looking into what he described as a 'crystal ball'...
"...Believe it, it’s going to happen – they’re going to think you’re crazy but believe it, it’s happening, it’s going to be awesome!"
Forward to around 9:00 for the fun and games - including a large crystal ball - to begin...
This week also saw a similarly buoyant tone come from Fundstrat Global Advisors cofounder Tom Lee, who on Thursday told CNBC he was “confident” Bitcoin would hit $25,000 before the end of the year, a prediction he has made before.
Draper's son is a believer...