Timothy Cook Draper is a venture capital investor and founder of Draper Fisher Jurvetson. His net worth was estimated to be $1 billion in 2020. He is also known for investing in successful companies like Skype, Hotmail, Coinbase, Twitter, and Tesla. The billionaire recently made news in the crypto community for his optimistic take on Bitcoin.
In a new tweet, Draper claimed that Bitcoin is all set for a $250,000 price point. According to him, the flagship crypto would cross the six-figure evaluation before the end of 2022 or the start of 2023. He confirmed his beliefs in a recent interview with Benzinga.com. He told the journalists that Bitcoin adoption is increasing by the day, and its popularity would only surge as time passes.
Fiat Currencies Keep Losing Values
In a recent interview with crypto-related journalists, Tim Draper claimed that Bitcoin price would be shooting for the stars. He explained that the flagship coin is all about providing freedom and establishing trust. He also pointed out the positive impact made by crypto adoption in countries like Argentina and Nigeria. He also called Bitcoin an effective inflation hedge.
As much as Tim Draper advocates in favor of Bitcoin, he seems to be equally disappointed with decreasing value of fiat. He recently told the media that the decision to issue a stimulus check has resulted in the devaluation of the dollar. Since the government is planning to arrange more rounds of stimulus checks, the dollar likely continues to lose more value.
While Tim Draper’s encouraging remarks about Bitcoin are a breath of fresh air for Bitcoiners, not everyone is on the same page. Scott Minerd, CIO at Guggenheim Partners, took to Twitter to share some bad news about the current state of Bitcoin. According to Minerd, Bitcoin will soon plummet from the $30K price point.
Minerd claimed that whenever a support level is tested, it becomes weak. According to him, the bearish call is supported by technical analysis. Minerd claimed that during June, Bitcoin could be as low as $10K to $15K.