Former crypto billionaire Tim Draper believes Bitcoin will hit $250,000 by the end of 2022:


Tim Draper made bold predictions about bitcoin in an interview with Forbes earlier this year. He projected that Bitcoin will reach a quarter-million-dollar valuation within a year.

Although Draper’s prognosis is not aging well, he is not backing down. According to Forbes, Draper was approached through email and maintained his bold estimate about the price of Bitcoin.“I am more convinced than ever that it is happening” he said. “By late 2022 or early 2023

Bitcoin’s value has dropped by half since the beginning of the year, falling from $47k in January to around $20k in June. Draper is one of four crypto investors who have lost their billions as a result of the market’s collapse. Draper’s net worth dropped from $1.2 billion to $647 million, a whopping $553 million loss.

The recent crypto market crash wiped out over $400 billion, according to a report by Forbes, the eleven richest crypto personalities have lost nearly $60 billion in the past few weeks.

Binance CEO Changpeng Zhao lost $47.5 billion. Coinbase founder Brian Armstrong lost roughly half of his income. Chris Larsen, the founder of Ripple, lost $1.1 billion, and Jed McCaleb, the co-founder of Ripple, lost $300 million.

Written by Angela Vera

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