Tim Draper Says Yes to Bitcoin For The Holidays, Anticipates $250,000 BTC In 2024

Are we in for a Bitcoin BTC/USD Christmas?

With the next Bitcoin halving expected in April 2024, a reduction in U.S. interest rates, and the spot BTC ETFs looking like an inevitability, there are clear drivers for Bitcoin’s march forward. Still, close observers warn that Bitcoin may not have the same upward impact on altcoins that it had during other crypto market recoveries.

We asked venture capital investor Tim Draper about the prospects of buying more of the world’s most famous cryptocurrency for the holiday season. The answer, Draper says, is self-evident: it is always time to buy more Bitcoin.

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“I am buying (Bitcoin)," Draper says. "Of course, I am always buying.”

Draper is also expecting a significant increase in Bitcoin prices, driven by mainstream adoption.

“I think the real change will happen when I can buy my food, clothing, and shelter and pay my taxes all in Bitcoin, with the blockchain keeping perfect records, and smart contracts driving the economy," he said. "At that point, I can’t imagine a single use for dollars.”

Draper has been making predictions for Bitcoin prices for eight years.

• 2014: Draper predicted BTC would reach $10,000 within three years.
• In November 2017, it reached the $10,000 mark.
• In 2018, when BTC hung around $8,000, Draper predicted it would reach $250,000 by the end of 2022 or early 2023.
• Draper adjusted his expectations on the time frame of Bitcoin’s rise, which he sees as inevitable, predicting Bitcoin prices to reach $250,000 in 2024. 

When asked if it would be a happy holiday for blockchain projects, Draper responded: “That depends on if you’ve been good or bad this year.”

Given the amount of litigation from the U.S. Securities and Exchange Commission against the crypto sector, Draper’s comment may be prescient.

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