In the past years, there were wide range predictions for the price of Bitcoin (BTC), such as $50,000, $100,000, $250,000, $1,000,000, and $2,000,000. However, all these predictions will remain speculations until one or two of them come to pass.
Tim Draper made his prediction about two years ago. And the venture capitalist still remains resolute that Bitcoin (BTC) will hit $250,000 by 2023, unlike John McAfee, who some weeks ago played down his prediction of $1 million for BTC, by tagging it a ruse meant to entice new investors.
Tim Draper Promises To Eat Raw Egg If His Bitcoin (BTC) Prediction Fails
The capital investor, Tim Draper, during the Virtual Blockchain Week, stated that Bitcoin’s benefits to retailers will be one of the catalysts to its rapid growth and adoption.
Concerning his prediction he said:
“That’s my prediction. Sticking with it. I’m very confident that that is going to happen. That’s happening. It’s kind of funny.”
He also stated that he would eat a raw egg if Bitcoin (BTC) fails to reach $250,000 by early 2023, as he earlier predicted.
The Interest of the People in Bitcoin (BTC) and the Impact of COVID-19 Pandemic on Its Price
Several individuals and users across the world have been attracted to Bitcoin (BTC) over the years. Howbeit, there was a big change sometimes in March 2020, after BTC lost over 50% of its accumulated price within 24 hours, which was attributed to the negative impact of COVID-19 pandemic.
At the time of publication, BTC is trading at $7,760.43, with a 0.16% price increase in the last 24 hours. At the moment, its market cap stays at $142 billion.
So, for the price of Bitcoin to experience exponential growth to attain $250,000 in the next few years as Tim Draper predicted, it has to continue growing and expanding all over the world. More capital companies should start accepting it as a means of payment.
Additionally, the upcoming Bitcoin halving could also serve as the game-changer for the exponential price growth of the digital currency, as it played out in the previous halving.