Venture capitalist Tim Draper thinks bitcoin will hit $250,000 a coin by the middle of 2023.
Ben McShane | Sportsfile via Getty Imageswill hit $250,000 a coin by the middle of 2023, even after a bruising year for the cryptocurrency marked by industry failures and sinking prices.
He reaffirmed this position Saturday when asked how he felt about his price call following the collapse of FTX.Bitcoin would need to rally nearly 1,400% from its current price of around $17,000 for Draper's prediction to come true. The cryptocurrency has plunged over 60% since the start of the year. FTX's demise has also worsened an already severe liquidity crisis in the industry. Crypto exchange Gemini and lender Genesis areLast week, veteran investor Mark Mobius told CNBC that bitcoinnext year, a more than 40% plunge from current prices. The co-founder of Mobius Capital Partners correctly called the drop to $20,000 this year.
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