Since the crypto market crisis in mid-May, Bitcoin has had a rough time. For quite some time, the most trusted coin that has catapulted cryptocurrencies to unprecedented heights has been steadily declining. However, a recent tweet by Elon Musk, the CEO of Tesla and SpaceX, and the most influential figure in the cryptocurrency industry, re-adopting bitcoin as a form of payment in the future, has caused the bitcoin price to surge once more.
Despite the fact that investors and traders are losing faith in bitcoin, billionaire venture capitalist Tim Draper says he will stick to his original prediction of bitcoin by the end of 2022 or the beginning of 2023. $250,000.00 (approximately Rs 1.85 crore).
Draper believes that in the future, more individuals will begin to invest in cryptocurrencies. In addition, he claims that retailers will convert to OpenNode (a bitcoin payment processor) in the next year and a half, allowing everyone to take bitcoin.
For those who don’t know, Tim Draper is a well-known venture capitalist who is 63 years old. Tim has made billions of dollars in early-stage investments in firms such as Twitter, Tesla, SpaceX, and Skype, as well as significant Bitcoin holdings.