Bitcoin (BTC) at $250,000? Tim Draper's inaccurate prediction

As the BTC halving approaches, bull run predictions are back in full swing. Tim Draper predicted a $250,000 bitcoin by 2022. But not everything went according to plan for the queen of cryptocurrencies. The crypto-enthusiast billionaire has rectified his earlier prediction.

Tim Draper begs for an extension

Tim Draper, the man who left the PBWS 2023 audience in Paris speechless with his Bitcoin song, has once again spoken about the evolution of the BTC price. As a reminder, last July he predicted that the cryptocurrency would trade at $250,000 by the end of 2022.

When December kicked off, nothing enticing was happening on the cryptocurrency market. It was a harsh winter, to the point of prompting the venture capitalist to extend the validity of his prediction by 6 months.

After so many failures in his role as a BTC prophet, Tim Draper must have felt pretty ridiculous. Bitcoin.com has noted that he has just readjusted his prediction schedule. Optimistic as he is, the founder of Draper Fisher Jurvetson and Draper Venture Network still believes in a $250,000 ATH.

However, this could take some time.

So much for my predictive abilities…It is June 30, 2023. When Bitcoin was $4000, I predicted it would reach $250k (60X) by now. It has only reached $30k (7X). I guess we have to wait a little longer, (maybe 2 years) but engineers are hard at work. #bitcoin #trust #freedom

— Tim Draper (@TimDraper) June 30, 2023

So, see you at the end of June 2025 to see BTC trading at a quarter of a million dollars.

Good and bad Bitcoin preachers?

Tim Draper is no stranger to failing to predict a rise in the price of BTC.

See t-shirt. $250k by 2022. My prediction was off by a bit. Hasn’t made it there…yet. Certainly before the halvening. #truebelievers #bitcoin #worldoftrust #freedom #hodl pic.twitter.com/jMLi8rraj8

— Tim Draper (@TimDraper) December 31, 2022

To think he excels in other areas too. Apart from making lots of money, Tim Draper sings very well and also knows how to criticize the SEC’s aggressive policy.

But Draper isn’t the only one who wants a 7-figure ATH for bitcoin. Brothers Cameron and Tyler Winklevoss, for example, recently predicted BTC at $500,000.

Another analyst, Willy Woo, prophesied BTC at $310,000 due to a recent influx of institutional investors. Haven’t we heard that BlackRock, Fidelity and other financial giants have recently announced their intention to enter the crypto industry?

In any case, July is proving to be a promising month for the leading cryptocurrency. As BTC whales become increasingly motivated to refuel, they could propel the queen of cryptocurrencies to new heights.