- Draper’s Prediction That BTC Will be $250,000 By 2022 has been supported by CNBC’s Brian Kelly.
- Brian added that more institutionalized money into the cryptocurrency realm would dampen volatility.
Crypto World: Tim Draper, an investment tycoon last week predicted that the price of Bitcoin would get to $250,000 by 2022. On 13th April, Brian Kelly of CNBC Fast Money, during an interview, gave his support to this prediction. When responding to a question about Tim’s high prediction, Brian said that considering the 4,000% return that BTC achieved over 2 years really “sounds crazy,” however, a 3,000% return over 4 years would definitely be a “continuation of the trend we’ve seen.”
Brian continued by saying that as more institutionalized money get into the cryptocurrency realm – the likes of Soros Fund Management, a Goldman Sachs executive, and Rockefeller’s VC arm – the volatility of digital currencies would be dampened, thereby making it easier to use cryptocurrencies as real currencies. This would, therefore, make Tim’s predicted 2022 BTC price point achievable in the next four years.
Kelly stated that unreliable governments or banking systems is a major cause of turning to cryptocurrency. When he was questioned on why anybody would rather risk losing about 20% in cryptocurrency investment, he replied:
“Well, listen, it’s better than losing 100 percent if your assets are seized by a rogue government.”
Brian stated that the major driver to get BTC to hit $250,000 by 2022, or $25,000 by 2018, is for its transaction volume to increase. He said:
“If the number of transactions […] catch up a bit, then I do think we’ve bottomed here and I do think we’ve got a sustainable bull run ahead of us.”
Also, Pantera Capital had earlier predicted that Bitcoin would hit $20,000 again towards the end of 2018.
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