Venture capitalist Tim Draper at the Virtual Blockchain Week stated that he is going to stand firm to his six-figure Bitcoin (BTC) price prediction.
Previously in 2018, Tim Draper had made a bold public call that the price of the Bitcoin may reach $250,000 by the end of 2022 or 2023. He further stated that it's his own prediction and he is confident about this prediction.
He also talks at length citing reasons for the same. Draper believes that the US government's huge stimulus package will help to debase the value of a dollar and would urge people to go for crypto.
Bitcoin in future may see a massive commercial adoption across the world within this transition. Draper also mentioned that a company called OpenNode(he invested $ 1.25 million) can actually make it happen.
OpenNode is basically a payment gateway for Bitcoin building on the Lightning Network, also known for its extremely swift BTC transaction settlements.
He believes such services will have a competitive edge over other conventional players like Credit Card and will steal market share from them in the same way as MasterCard and Visa took over share from the popular and dominant American Express.
Owing to having a countdown which halves the rate at which new bitcoins are created, there will be upward rising attention on bitcoin's price movements.