Tim Draper is a prominent venture capitalist, the founder of Draper University and the creator of the Meet The Drapers television series. He invested early in Tesla, SpaceX and Coinbase and has 254,000 followers on X.
“Let me get my second prediction to actually happen, and then we’ll move on to other predictions,” Tim Draper tells Hall of Flame, refusing to be drawn on price predictions for XRP and Ethereum.
This makes sense, given it’s been six years since he forecast that Bitcoin would reach $250,000 by 2022.
Oops! I predicted $250k in 2022. My tweet last night was missing a zero. $250k is the number!
— Tim Draper (@TimDraper) April 13, 2018
Spoiler alert: It didn’t.
Which is not to say it won’t happen eventually, as Draper has been pretty far-sighted in the past.
Back in 2014, Draper scooped up around 30,000 Bitcoin for $19 million after the U.S. Marshals took down Silk Road. Fast forward to today, and those Bitcoin have increased 4,165% in value to be worth a whopping $810.5 million.
Around the same time, he made a prediction that Bitcoin would reach $10,000 in three years, and lo and behold, it hit that mark in 2017.
Draper explains that he only dropped the $250,000 prediction because people kept asking after he totally nailed his first Bitcoin price guess.
“The only reason I’ve given the second prediction was that the first one was so good. I had a lot of pressure to put another one out there,” Draper declares.
He has politely requested a deadline extension on Bitcoin reaching a quarter of a million, with a timeline that would give a university lecturer a heart attack.
“Give me until the end of June next year,” he says.
Draper accuses the U.S. government of messing up his price prediction. He had expected the growth of blockchain to be reminiscent of the internet era, similar to when he made his earlier investments in companies like Hotmail and Skype.
He emphasizes the significant benefit that the United States reaped by…