While Elon Musk and Jeff Bezos are focused on Mars, billionaire venture capitalist Tim Draper has his feet firmly planted on the ground. Draper might appear to have his head stuck in the clouds with a lofty $250,000 bitcoin price prediction. But from what he tells Fox Business, the early bitcoin investor isn’t stargazing: “I’m a believer that in four years, something like that, bitcoin will be about a 5% market share of the earth.”
He pointed to bitcoin’s best features such as decentralization, transparency, and simply being a better currency than fiat. Draper was an early bitcoin investor, having purchased 30,000 BTC when the price was hovering at $632 per coin. He points out that the investment is worth 10x that amount today, and he’s got no doubt that it’s going much higher.
Draper envisions a future in which bitcoin further disrupts the venture capital business model.