As far as the Bitcoin market is concerned, there are a lot more bulls than bears. Predictions and forecasts that have placed Bitcoin as high as its current all time high of $20,000 are quite common. Now, in a recent interview, another popular Bitcoin bull and venture capitalist Tim Draper has said that his previous prediction that Bitcoin will definitely hit $250,000 by 2022, might be a bit of an understatement.
Last year, Draper famously predicted that Bitcoin will hit $250,000 and will get at least five percent of the entire market share. Now in a recent interview with BlockTV news, Draper has doubled down on his bullish prediction, stating that he may have minimized Bitcoin’s capability at the time. Draper said:
“$250,000 means that Bitcoin would then have about a 5% market share of the currency world and I think that maybe understating the power of Bitcoin.”
What’s Stopping Bitcoin?
Draper believes that the major obstruction to the wide popularity and adoption of Bitcoin is still that fiat is a lot more accessible and easier to use. According to Draper, digital currencies are considerably more complex and so far “engineers have not made it that easy enough for everyone to use Bitcoin.”
He has however further posited that its only a matter of time before Bitcoin scales that hurdle because fiat currencies are a little too susceptible to geopolitical and economic policies and tensions.
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