Venture capitalist Tim Draper has announced his most aggressive Bitcoin forecast to date.
In a recent social media post, he has predicted that the asset will hit $250,000 within six months and eventually skyrocket to $10 million as it eclipses the US dollar.
The $10 million “endgame”
Draper’s ultimate thesis is about currency replacement. He argues that the share of the US dollar will “keep shrinking” due to inflation and debt.
The $10 million figure is a long-term target. His immediate focus is on a rapid 2.5x surge from current levels to $250,000 by mid-2026.
Draper cites the end of a “misguided administration” as the green light for this next leg up. He is, of course, referring to the regulatory heavy-handedness of the previous few years.
The history of the $250,000 prediction
Draper is famous for his high-stakes price calls, but his road to $250,000 has been bumpy.
Standing in front of a crowd at his own Draper University, wearing a purple Bitcoin tie, Draper famously predicted Bitcoin would hit $250,000 by 2022 back in 2018. At the time, Bitcoin was trading at roughly $8,000.
However, the crypto market was in the depths of a winter triggered by the FTX collapse and macro headwinds in late 2022, and Bitcoin traded near $16,000.
The billionaire admitted his timing was off but refused to change the price target. He extended his deadline to mid-2023, and later to 2025, blaming “bureaucrats” and the SEC’s “regulation by enforcement” for stifling innovation and delaying institutional adoption.
Now, with Bitcoin trading significantly higher and the regulatory clouds parting, Draper believes the original target is finally imminent, giving it a “six-month” window to materialize.
A track record of “crazy” calls
Despite the $250k delay, Draper’s track record earns him attention. In 2014, when Bitcoin was trading at roughly $180, Draper predicted it would hit $10,000 by 2017. Most dismissed it as fantasy. Three years later, in November 2017, Bitcoin crossed the $10,000 mark.
Draper purchased nearly 30,000 BTC from the US Marshals Service auction (assets seized from the Silk Road). He paid roughly $632 per coin, which was above the market price at the time.
