Renowned venture capitalist Tim Draper announced a significant collaboration between Draper University and Stellar. The partnership aims to accelerate and fund up to 80 startups over the next two years, with these startups set to build on the Stellar blockchain platform. The initiative includes the Stellar Astro Hacker House and the Stellar Embark Accelerator, programs […]
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Legendary Investor Tim Draper Leads Bitcoin Lending Protocol Zest’s $3.5 Million Seed Round
Draper Associates, the VC firm led by the legendary investor Tim Draper, has led the .5 million seed round of Zest Protocol, a Stacks-based Bitcoin lending market. The round, which also had the participation of Binance Labs, Flow Traders, Trust Machines, and others, seeks to allow bitcoin holders to put their capital to use using […]
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Tim Draper Expects Bitcoin to Transform El Salvador Into One of the Richest Countries in the World
Tim Draper, a venture capitalist famous for his bitcoin price predictions, has praised El Salvador’s vision of embracing this new technology and talked about the benefits of this decision for its people. According to Draper, bitcoin will make El Salvador one of the richest countries in the world in the next 30 or 40 years. […]
Bitcoin News
Billionaire Tim Draper Bullish On Bitcoin As It Will Surpass Traditional Currencies, Here’s Why
Tim Draper, founder of Draper Associates and Billionaire venture capitalist, recently shared his thoughts on Bitcoin and the flagship crypto token’s potential to revolutionize the global economy. Specifically, Draper highlighted how BTC could replace the Dollar and other fiat currencies soon enough.
BTC To Replace The US Dollar
Draper mentioned during an interview on Bloomberg that the time is coming when people “won’t want the Dollars” anymore. He believes this would happen as a result of everyone having a preference for the flagship crypto token. When that happens, the billionaire says that he will be able to his “food, clothing, and shelter all in Bitcoin.”
Draper suggested that this revolution was going to occur from a massive bank run, similar to what occurred with the Confederate dollar after the US Civil War ended in 1864. He also likened Bitcoin potentially replacing the Dollar to what happened with the Greek Drachma and the run on the French Franc after France adopted the Euro.
Meanwhile, the billionaire alluded to how BTC already has an edge over some fiat currencies. He gave an example of how Argentines and Nigerians don’t trust the Peso and Naira, respectively and would rather prefer to do business in Bitcoin.
Bitcoinist previously reported how Bitcoin hit an all-time high in Argentina and Nigeria. The inflationary pressure that those countries are experiencing has caused their currencies to devalue, with locals seeing Bitcoin as the go-to alternative to hedge against this inflation. With the US also facing its economic crisis, Draper’s prediction of Bitcoin replacing the Dollar may not be far from happening.
Why Bitcoin Didn’t Rise To 0,000 In 2022
During the interview, Tim Draper also explained why his Bitcoin prediction of 0,000 didn’t happen. The billionaire had in 2018 predicted that the crypto token was going to rise to that price level by 2022. Draper looked to have blamed the US government for this not happening, stating that he didn’t expect them to have been “paranoid” about Bitcoin.
This paranoia is probably why the government has its reservations about the flagship crypto token rather than accepting it and taxing profits made on it, just like Draper expected. However, this paranoia looks to be in the past as the billionaire claims that the US has realized that “Bitcoin is actually better for everyone.”
Interestingly, Draper is not backing down on his 0,000 prediction, stating now that Bitcoin will hit this price level in 2025. His confidence might come from the fact that BTC looks to be more accepted by the US authorities, especially following the approval of the Spot Bitcoin ETFs, which are recoding huge demand.
Billionaire Tim Draper Doubles Down on Bitcoin — Foresees Moment When People Won’t Want Dollars Anymore
Billionaire venture capitalist Tim Draper has doubled down on bitcoin and his price prediction of the crypto. “I think that there’s going to be a moment where there’s a run on the banks,” he cautioned, adding: “I actually think that there will be a moment in time when I can buy my food, clothing, and shelter all in bitcoin. And people won’t want dollars anymore.”
Tim Draper on Government and Bitcoin
Billionaire venture capitalist Tim Draper discussed his bitcoin outlook in an interview with Bloomberg on Tuesday. Draper is famous for his 0,000 bitcoin price prediction. When the price of BTC was 0, he predicted that it would take four years for it to reach 0K. Draper admitted that his prediction missed the mark because he underestimated several crucial factors.
“A few things I didn’t expect. I didn’t expect the U.S. government to be so paranoid about it [bitcoin]. I expected the U.S. government to figure out how to tax it and figure out how to allow people to do business with bitcoin as their base currency. And it’s happened in a number of other countries, and that’s why bitcoin is doing so well … So I miscalculated on how … scared the government, the U.S. government was,” Draper detailed, emphasizing:
And now, they realize that bitcoin’s actually better for everyone.
“It keeps perfect records,” he elaborated, noting that criminals who used bitcoin “were all caught, so using dollars is probably better for a criminal.”
Draper further shared: “I think that there’s going to be a moment where there’s a run on the banks the way after the Civil War there was a run on Confederate money, and there was a run on the Greek drachma and a run on the French franc when they became a part of the euro.” In conclusion, the billionaire investor opined:
I actually think that there will be a moment in time when I can buy my food, clothing, and shelter all in bitcoin. And people won’t want dollars anymore.
Do you agree with Tim Draper about bitcoin? Let us know in the comments section below.
Billionaire Tim Draper Predicts When The Bitcoin Price Will Reach $250,000
Billionaire Tim Draper has predicted a new all-time high for Bitcoin, foreseeing a staggering 0,000 rise for the cryptocurrency in 2024.
Bitcoin To Reach 0,000
In a recent exclusive interview with Coin Bureau, a crypto informational portal, American venture capital investor, Tim Draper and Co-founder and CEO of Real Vision, Raoul Paul shared compelling insights on the outlook of Bitcoin and other cryptocurrencies in the space.
During the engaging conversation, Draper expressed highly bullish sentiments regarding Bitcoin’s future trajectory. When asked about his thoughts on Bitcoin’s price prediction, Draper confidently stated that BTC is poised to reach 0,000 soon. He hinted at the possibility of that surge happening in 2024, due to the present bullish trend on Bitcoin and several other cryptocurrencies.
Draper, known for his success in Bitcoin investments also revisited a past Bitcoin projection he made. He stated that he had foreseen Bitcoin reaching ,000 in three years and true to his foresight, the cryptocurrency achieved the milestone.
“I would say that my number 0,000 will probably come pretty soon, so I’ll stick with 0,000. I think that if it hits 0,000, it’ll go way past it,” Draper stated.
While addressing his 0,000 BTC forecast, Draper also mentioned a prior prediction where he anticipated the price of Bitcoin reaching 0,000 when its value was at ,000. Despite the non-fulfillment of this particular prediction, Draper hinted at the possibility that the United States’ archaic approach towards cryptocurrencies may be stifling innovation and growth.
“When I predicted that, what I didn’t expect was how fearful and just old thinking the US would be. I think with a receptive US, we would be having conversations like the ones I have with the people from El Salvador,” Draper stated.
Presently, El Salvador is one of the few countries that has accepted Bitcoin as a legal tender. The country became the first to make Bitcoin a legal tender in September 2021, allowing its citizens to utilize BTC as a legal form of payment.
Draper Unveils Stablecoins Crucial Role In Shaping BTC
During the interview, Draper highlighted the role of stablecoins in the crypto space. The billionaire asserted that stablecoins could serve as a valuable support mechanism for BTC due to its price stability and seamless portability.
“The role of stablecoins, I think, will be a bridge to bitcoin. I think the way stablecoins will operate, they will be viable as long as the dollar is viable, and then when there’s a run on the dollar, people will move to Bitcoin,” Draper stated.
The billionaire also expressed a particular interest in smart contracts, highlighting its diverse use cases. He discussed the transformative impacts Bitcoin could bring into the financial sector through smart contracts.
Draper stated:
I’m a big fan of smart contracts. I can’t wait for the moment when I can raise all my investor money in Bitcoin, invest it all in Bitcoin, have them all pay their employees and suppliers and their taxes and everything else [in Bitcoin], and have it all be completely accounted for, audited, without an accountant, an auditor, a bookkeeper, a transfer agent, or a tax lawyer. This new economy will have far less friction. I think that’s very exciting.”
Tim Draper Expects Bitcoin Price to Hit $250,000 in 2024
Venture capitalist Tim Draper has doubled down on his 0,000 bitcoin price forecast. “I would say that my number 0,000 will probably come pretty soon,” he emphasized, predicting that if the price of bitcoin hits 0,000, “it’ll go way past it.”
Tim Draper’s 0K Bitcoin Prediction
Venture capitalist Tim Draper shared his bitcoin price prediction for 2024 in an interview with Coin Bureau last week.
He explained that when the price of BTC was ,000, he predicted that it would climb to 0,000 in four years. “When I predicted that, what I didn’t expect was how fearful and just old thinking the U.S. would be. I think with a receptive U.S., we would be having conversations like the ones I have with the people from El Salvador,” he shared. El Salvador was the first country to adopt BTC as legal tender alongside the U.S. dollar.
Emphasizing that he still believes BTC will reach 0K in the near future, he opined: “I think all that is is a delay. I would call it the fear delay … old government delay.” Draper added:
I would say that my number 0,000 will probably come pretty soon, so I’ll stick with 0,000 … I actually think that if it hits 0,000, it’ll go way past it.
While expressing his belief that “we are going through the boom cycle” and anything can happen, he reiterated: “I think this year we might see 0,000.”
Draper further shared: “I’m a big fan of smart contracts. I can’t wait for the moment when I can raise all my investor money in bitcoin, invest it all in bitcoin, have them all pay their employees and suppliers … and their taxes and everything else [in bitcoin], and have it all be completely accounted for, audited, without an accountant, an auditor, a bookkeeper, a transfer agent, or a tax lawyer … This new economy will have far less friction. I think that’s very exciting.” He also commented on stablecoins, stating:
The role of stablecoins, I think, will be a bridge to bitcoin. I think the way stablecoins will operate, they will be viable as long as the dollar is viable, and then when there’s a run on the dollar, people will move to bitcoin.
The venture capitalist previously explained that he expects the price of bitcoin to soar past his estimate due to adoption by women. He predicted that at some point in the future: “All the women will have bitcoin wallets and they will be buying things with bitcoin and you are going to see a bitcoin price that will just go right through my 0,000 estimate.” In July, he said: “I think we are going to see bitcoin rise above the other cryptos … It’s just better technology — Having a bank and government decide on what currency is good is not as effective as having a bitcoin where there is a trusted third party, which are hundreds of thousands of nodes making sure the transaction was done properly.”
Do you think the price of bitcoin will hit 0,000 next year? Let us know in the comments section below.
Tim Draper Predicts Bitcoin Will Outpace Fiat Currencies, Asserts Its Superiority Over Traditional Banking
Renowned bitcoin investor and venture capitalist, Tim Draper, envisions a future where bitcoin emerges as a formidable competitor to the world’s fiat currencies. During a recent interview with Fox News, Draper argued that bitcoin’s inherent safety and superiority surpass those of traditional banking systems and government-controlled fiat currencies.
Venture Capitalist Tim Draper Says Bitcoin Is ‘Transforming the Way Currency and Commerce Is Done’
Tim Draper, a prominent advocate of bitcoin (BTC), has recently revised his prediction for the timeline when he anticipates BTC to reach 0,000 per unit. In an interview with Fox News published on Wednesday, Draper discussed the leading cryptocurrency asset on Fox Business’ “Claman Countdown” broadcast. Throughout the interview, Draper emphasized the significance of the Internet in society and expressed his belief that “the same is going to be true of bitcoin.”
“We’re going through one of the most exciting decades I think we’ll ever see in our lifetimes because we have bitcoin transforming the way currency and commerce is done,” Draper said. Currently, the venture capitalist stated that BTC was establishing its position amidst a vast array of other crypto assets.
“I think we are going to see bitcoin rise above the other cryptos,” Draper told the host. In fact, Draper adamantly asserts that bitcoin will further ascend to challenge other fiat currencies. According to the venture capitalist, bitcoin’s superiority and heightened efficiency surpass today’s conventional finance system.
“It’s just better technology — Having a bank and government decide on what currency is good is not as effective as having a bitcoin where there is a trusted third party, which are hundreds of thousands of nodes making sure the transaction was done properly,” Draper remarked. He added:
[Bitcoin is] just better, safer technology, and I think eventually the rest of world will come on board.
Draper further asserted that bitcoin is accepted worldwide and believes it is only a matter of time before retailers recognize the advantages of accepting bitcoin. He pointed out that they can avoid paying banks and credit card companies by utilizing BTC. The investor emphasized that eventually, BTC “will be the one everyone flies to when you can buy your food, clothing, and shelter.”
As we witness the continuing evolution of cryptocurrency, do you agree with Tim Draper’s prediction about Bitcoin’s supremacy over fiat currencies and traditional banking systems? Share your thoughts and opinions about this subject in the comments section below.
Vitalik Calls Out ‘Centralized World’ Stifling Crypto Innovation, Tim Draper Adjusts BTC Price Prediction, and More — Week in Review
“The real competition is not other chains, it’s the rapidly expanding centralized world that is imposing itself on us as we speak.” So says Ethereum co-founder Vitalik Buterin addressing the current volatile regulatory realities in crypto. In other news, venture capitalist Tim Draper adjusted the timeframe of his 0K bitcoin price prediction, and a former SEC official asks the crypto community to stop the “personal attacks” against the U.S. Securities and Exchange Commission and its chair, Gary Gensler. This and more in the latest Bitcoin.com News Week in Review.
Ethereum Co-Founder Vitalik Buterin on SEC Crypto Enforcement Actions: ‘The Real Competition Is the Centralized World’
Vitalik Buterin, a co-founder of Ethereum, the second largest cryptocurrency project by market cap, took a stance on the recent actions that the U.S. Securities and Exchange Commission (SEC) has taken in the field of enforcement against crypto. Buterin mentioned how projects like Solana were included in these legal actions and stated that the real competition was the “centralized world.”
Tim Draper Adjusts Timeframe for His 0K Bitcoin Price Forecast
Venture capitalist Tim Draper has adjusted his projected timeframe for bitcoin’s price to reach 0,000. Maintaining an optimistic outlook, Draper still expects the world’s largest cryptocurrency to reach his predicted price target but acknowledged that it may take “a little longer.”
Former SEC Official Defends Chair Gensler — Urges Crypto Community to Quit Personal Attacks, Focus on Facts
The U.S. Securities and Exchange Commission (SEC)’s former head of internet enforcement has defended SEC Chairman Gary Gensler’s approach to regulating the crypto industry. “It’s time to attack the facts and law on SEC positions and quit the personal attacks on the SEC Chair or the SEC staff,” he stressed. “It’s an anemic and flawed pivot that does not work in a courtroom and is a transparent and bush-league attempt to rally the mob.”
Nasdaq Resubmits Blackrock Spot Bitcoin ETF Application, Inks Agreement With Coinbase for Surveillance-Sharing
After the four firms that filed for spot bitcoin exchange-traded funds (ETFs) resubmitted their applications with the U.S. Securities and Exchange Commission (SEC), the asset manager Blackrock followed suit with an amended application. Similar to Cboe’s refiling of registrations from Fidelity, Vaneck, Invesco, and Wisdomtree, Nasdaq amended the Blackrock spot bitcoin ETF filing by incorporating Coinbase as a surveillance-sharing agreement (SSA) partner.
What are your thoughts on this week’s stories? Can decentralization overcome what many in crypto see as the ineptitude or outright malice of regulatory bodies? Be sure to let us know in the comments section below.
Tim Draper Adjusts Timeframe for His $250K Bitcoin Price Forecast
Venture capitalist Tim Draper has adjusted his projected timeframe for bitcoin’s price to reach 0,000. Maintaining an optimistic outlook, Draper still expects the world’s largest cryptocurrency to reach his predicted price target but acknowledged that it may take “a little longer.”
Tim Draper’s 0K Bitcoin Price Forecast
Venture capitalist Tim Draper has adjusted the projected timeframe for his bitcoin price prediction. He tweeted Friday that when the price of bitcoin was ,000, he predicted that it would climb 60 times and reach 0,000 by now. However, BTC ended June below ,000. “I guess we have to wait a little longer,” he wrote, adding that it may take two more years for his 0K prediction to come true.
Draper previously predicted that the price of bitcoin would reach 0K by the end of 2022. However, he acknowledged on Dec. 31, 2022, that his “0k by 2022” forecast for bitcoin was “off by a bit.” Nonetheless, he insisted that the price of BTC will “certainly” reach the predicted level before the halving in 2024.
See t-shirt. 0k by 2022. My prediction was off by a bit. Hasn’t made it there…yet. Certainly before the halvening. #truebelievers #bitcoin #worldoftrust #freedom #hodl pic.twitter.com/jMLi8rraj8
— Tim Draper (@TimDraper) December 31, 2022
When his forecast did not come true in December last year, he extended his BTC price prediction timeframe by six months to mid-2023. He told the Observer that if that still does not happen, then he is certain bitcoin will reach the 0,000 milestone before the end of 2024. He stated: “I am almost 100 percent sure I will be right in 18 months.” The venture capitalist also expects the price of bitcoin to soar past his estimate due to adoption by women.
According to his tweet on Friday, Draper now believes that it could take until the end of June 2025 for bitcoin to reach the 0,000 price point.
Draper also recently raised concerns regarding cryptocurrency regulation and criticized the enforcement approach taken by the U.S. Securities and Exchange Commission (SEC).
“Regulation by enforcement is killing our economy. It is killing China too,” he tweeted on June 20. During an interview with Fox Business on June 12, he criticized the securities regulator and its chair, Gary Gensler, for taking an enforcement-focused approach to regulating the crypto industry, stating:
I think we’ve got a real problem because the SEC has been spreading fear and all of the innovators are leaving the country … This regulation by enforcement makes no sense.
When do you think Tim Draper’s 0K bitcoin price prediction will come true? Let us know in the comments section below.