Bitcoin Course Analysis
Considering the many headlines around PayPal, Microstrategy and Square, the Bitcoin share price has reached new heights in the last weeks. Despite the positive performance, BTC is still trading at a good 35% below its all-time high of 2017. 2 years ago, the well-known Bitcoin investor Tim Draper published a Bitcoin price forecast that sees a price of USD 250,000 by 2022.
In a recent interview Draper spoke with Cointelegraph. Among other things, he talked about his forecast and the hype of Decentralized Finance. We summarize the most important results!
Draper sticks with Bitcoin price of 250,000 USD
Did Tim Draper stick to his Bitcoin price forecast of $250,000? – The answer is quite clear: Yes. The investor and billionaire reaffirmed his statement in an interview with Cointelegraph and even said that he considered it a little too „conservative“.
When asked whether he would stick to his prediction, Draper answers:
Bitcoin will definitely reach $250,000 in 2022 or the beginning of 2023. This $250,000 is just 5% of the market share of currencies.
He sees a major role in the further use and spread of BTC, especially among women. While already „many“ men are already dealing with crypto-currencies and blockchain, there is still a lot of potential from the female side.
In the current times Draper spoke also about the topic of Covid-19, the monetary policy of the USA and the associated effects on Bitcoin. In his opinion, this policy will also lead to greater use of BTC.
Another thing that happened was the $13 trillion action by the U.S. government. This directly diluted the dollar by 20%. Then, of course, people ask themselves, „Where do I put my money, do I put it in gold or in Bitcoin where I have a better store of value?
Decentralized Finance (DeFi) more than hype
The last topic in the interview was the importance of Decentralized Finance. Draper said that not only is DeFi more than a marginal phenomenon, but that it had to happen by force.
In his opinion, the main reason for this is the possibility of having your money work on a decentralized basis. So Draper said:
DeFi had to happen. Humans had Bitcoin and other crypto-currencies and watched these only instead of letting the capital work for itself.
Draper even said that he set himself the goal of making his business sector, that is, the venture capital business, a Decentralized Finance project. In his opinion, we currently see the early stages of DeFi with enormous potential for further development and expansion into other areas.