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Tim Draper still positive on $250K Bitcoin price prediction in 2023

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Billionaire venture capitalist and serial blockchain investor Tim Draper is not giving up on his near-term Bitcoin (BTC) prediction despite the recent issues in the cryptocurrency industry.

Draper continues to stick with his optimistic prediction that Bitcoin will hit $250,000 in 2023 despite the ongoing crypto crisis fueled by FTX.

“No change in the price prediction. Still $250,000 by early next year,” Draper stated in an interview with Cointelegraph on Nov. 15.

The collapse of the FTX crypto exchange has nothing to do with the success of Bitcoin because Bitcoin is decentralized, and FTX was not, according to Draper.

“FTX was centralized, reliant on a single founder,” the billionaire investor stated, referring to FTX creator and former CEO Sam Bankman-Fried. “When a currency is centralized — a central bank for instance — it has a single point of failure, and can also be manipulated,” he added.

According to Draper, the fall of FTX would only trigger more decentralization in crypto as the latest events have once again demonstrated the biggest vulnerabilities of…

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