Tim Draper’s $250,000 Bitcoin prediction to wait until Q1 of 2023

The Billionaire and investor Tim Draper previously predicted Bitcoin to trade at $250,000 by 2022. Draper affirmed the prediction but made a slight adjustment. He was speaking during the launch of Grit BXNG, the boxing gym Draper invested in. The gym is going to be the first to accept Bitcoin as payment.

According to Tim Draper:

“$250,000 by 2022, and I’m hedging a little, maybe Q1 2023,” he said. “It may be Q1 2023, but it will be [$250,000] before that.”

Most people expected Draper to increase the prediction following the impressive performance of Bitcoin in the past three months. Moreover, the trade war between the US and China has seen stocks plunge while Bitcoin makes higher concentration.

“I’m the first customer he’s had who paid in bitcoin, and by the way, I was a little reticent to do it because I know what that stuff’s worth,” joked Draper. He also believes that Bitcoin will always stay ahead of the competition.

Draper added:

“You know it’s interesting, it’s consolidated more than I thought it would.” In continuation, he said “I thought there would be many more competitors at this point that were really relevant, but people have consolidated toward bitcoin because it’s decentralized and that’s why they get the flak at Facebook for being a centralized currency.”