Tim Draper: I'm sure that bitcoin will still reach $250,000 in 2023

Article Reading Time:
1 min.

The well-known venture investor continues to claim that next year the Bitcoin price will increase tenfold and reach $250,000.

Even despite the ongoing bearish trendand shocks due to the liquidity crisis of one of the largest exchanges FTX, Tim Draper confirmed his forecast for the growth of BTC. According to the investor, the bankrupt trading platform has nothing to do with the growth of Bitcoin and its collapse will not affect the achievement of the level announced by the investor.

“I’m not changing my forecast.Still waiting for $250,000 early next year. FTX has always been a centralized platform, with one single founder. When a currency, asset or business is centralized, it has a single point of failure and can be manipulated. I think the collapse of the exchange will attract even more people to Bitcoin. They will understand that any centralized system is unsafe, working with fiat money or cryptocurrencies,” says Tim Draper.

According to the investor, the crisis in the market showedthe need for true decentralization of both cryptocurrencies and trading platforms. At the same time, Bitcoin remains a truly decentralized system. Draper noted the importance of self-storage of assets - users should not trust cryptocurrencies to centralized companies and wallets.

Draper previously said that the main driver of growth should be women, who have so far refrained from investing in cryptocurrencies.