Tim Draper Maintains His BTC Value Forecast Of $250K In The Next Four Years
Tim Draper is a venture capitalist who predicted the increase in value of BTC by 2022. His estimates indicate that it might reach as high as $250,000.
The shareholder revealed this information during a web summit meeting on 6th November. Draper had originally predicted the asset’s value was to increase to $250K in April 2018. The stockholder had strongly believed his expectation could be witnessed at that time.
Individuals Eager To Know Whether Price Of BTC Will Increase
People inquired of him during the conference whether he expects that Bitcoin will earn maximum incomes in future. In addition, he suggested that the virtual asset must control 5% of the market share.
However, the investor claimed the amount was too small and further advocated for its use to purchase Starbucks hot drinks. In addition, he wanted the currency to be globally accepted in a majority of nations. This will make it easy to trade between individuals living in different countries around the world. Besides, it may decrease the risks associated with carrying huge amounts of money.
Draper additionally debated whether fiat money was vital since it has political affiliation. He expressed his doubts about the currency since it is determined by a political party. The venture capitalist observed that banks issue money according to their wish and at any particular time. Therefore, it is better to advocate for worldwide and open money that concedes the control of currency from banking institutions to ordinary individuals.
Draper advised people to utilize artificial intelligence and smart contracts as it may change the roles and responsibilities of nation-states. He expressed these sentiments while addressing participants at the GovTech Developers meeting. The event took place in May 2018. According to him, the combination of BTC, IA and blockchain will develop an impeccable and unimpeachable organization.
Moreover, Draper made a different prediction in September. He suggested that overall digital currency market capitalization will reach $80 trillion in a 15 year period. Draper also noted that there has been a significant decrease in digital money market in the previous months. One of the reasons is because most individuals were reluctant to adopt the use of crypto money as a new asset class.
Digital Money Targeting Large Investors
Cryptocurrencies are also targeting the trillion dollar money markets. Some of these sectors include insurance, finance and health sectors among others. This platform therefore, offers the perfect investment opportunity for institutions wishing to invest in this industry. In the future, more institutional investors should be encouraged to commit their funds to this sector in order to earn better returns.