Silicon Valley investor Tim Draper discussed his repeated price predictions for Bitcoin in a CNBC interview, acknowledging that they have not come true.
Failed Predictions by Tim Draper
Tim Draper, known for his high price targets for Bitcoin, admitted in his interview that his prediction of $250,000 has not yet materialized. "I've been predicting $250,000 for Bitcoin for a long time. It turns out I haven't been right yet," he said with a laugh.
Optimism for Bitcoin
Despite his failed predictions, Draper still believes Bitcoin is a "hedge" against poor governance, arguing that now is actually "a really good time" for the leading cryptocurrency. He noted that Bitcoin has already reached a significant portion of its target.
Comparison to Microsoft
Draper compared Bitcoin to tech giant Microsoft, emphasizing that many new applications are being connected to the leading cryptocurrency. He stated that there is a "gravitational" pull towards the largest cryptocurrency.
Tim Draper remains optimistic about Bitcoin's future, despite his unfulfilled price predictions. His belief in cryptocurrency as a protective asset and key component of the tech market endures.
