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As Bitcoin moves up and down, many investors are asking: How much will Bitcoin reach? Will we see a breakout peak by 2025? Is the direction of Bitcoin price clear?
While there are many opinions on this subject, Bitcoin supporter American billionaire investor Tim Draper explained his BTC prediction and altcoin investments in a podcast he recently attended.
SEC Why Bitcoin Is Not Going Up!
Tim Draper, who stated that the $250,000 prediction for Bitcoin in 2018 is still valid, stated that this prediction did not come true largely due to fear, uncertainty, and doubt spread by regulatory bodies such as the SEC.
“I said it would reach 250,000 in four years. And that was in 2018. But it didn’t happen.
“A big reason for that was all the fear, uncertainty and doubt that was being spread by the SEC. And that slowed down growth. It slowed down innovation. It slowed down progress. It slowed down technology.”
Draper finally stated that the US government will eventually recognize the potential of Bitcoin and other cryptocurrencies, and once this change happens, Bitcoin will quickly surpass the $250,000 mark.
Which Altcoins Did He Invest In?
Tim Draper also announced his altcoin investments. At this point, the billionaire investor stated that he invested in altcoins named Arkham (ARKM), Tezos (XTZ), Bancor (BNT) and Handshake (HNS).
Draper noted that he had made a significant investment in Arkham, a company focused on blockchain analytics, while praising the Arkham team's ingenuity, particularly their ability to link names to Bitcoin wallets.
The famous name expressed his appreciation for Tezos for its emphasis on governance and formal verification, and added that he sees Bancor as a vital player in the DeFi ecosystem that provides liquidity for various tokens and increases market efficiency.
*This is not investment advice.