Renowned investor Tim Draper has reaffirmed his confidence in Bitcoin and stated that he continues to increase his holdings of the cryptocurrency.
Long-Term Bitcoin Targets
In a recent interview, Draper reiterated his price target for Bitcoin at $250,000 by the end of 2025. Despite market volatility, he remains one of the most notable advocates for Bitcoin's long-term value as a decentralized global asset.
Draper's Bitcoin Investment History
Draper purchased 30,000 bitcoins at a U.S. Marshals auction for $19 million, roughly $633 per coin. This investment has increased in value by more than 150 times over the last decade.
Future of Bitcoin and Institutional Growth
As institutional investment continues to rise and Bitcoin ETFs gain global acceptance, Draper's confidence in his portfolio appears unwavering. He also did not specify whether he has spent any of his Bitcoins or adjusted his holdings, but confirmed that he continues to accumulate.
Tim Draper's confidence in Bitcoin underscores his strategic approach to investing in cryptocurrency, which continues to pay dividends.
