Tim Draper predicts Bitcoin prices to reach $ 250,000 by 2022

Bitcoin's stability is really positive, this is what the crypts believe. According to many of these stable levels, they are a strong base from which Bitcoin will rebound to new highs. This is exactly what venture capital billionaire Tim Draper predicted Bitcoin to touch $ 250,000 by 2022.

Tim Draper believes that Bitcoin can radically transform the government

At the Crypto Invest Summit in Los Angeles, Draper told AMTV he believes the price of Bitcoin is still on track to reach a quarter of a million dollars by 2022. He said that his prediction was largely due to Bitcoin lacked the political nature of paper money supported by governments.

To quote Draper

"So now there are $ 86 billion of political currency, they call it" fiat "currency, but it's politics, and I think that currency will be slowly devoured by a better currency that's global, decentralized, frictionless, it's just a better currency. Bitcoin is a better currency, and I think Bitcoin will be one of five [cryptocurrencies]".

According to Draper, cryptocurrency and blockchain technology have the potential to do much more than consume the value of traditional currency. He also believes that the criptos also offer a transformation opportunity to change the way governments around the world work and do business.

Quoting Draper again

"I think the government can be turned into this big, huge way, that is, put all these technologies together.You have a token that is global and decentralized.The token is now on a perfect register called blockchain so it does not require all this accounting special because accounting has already been performed.

And so you can create smart contracts so that all these contracts are embedded in the cloud so that everything that is supposed to happen in a contract happens. And then you have all those big data. You have the ability to take that data, add artificial intelligence and make decisions. Think about what a bureaucrat does. You can replace the entire bureaucrat with artificial intelligence, an intelligent contract and the blockchain. "

The bulls never lost confidence in BTC even though prices have fallen to around $ 6500 from $ 20,000 that hit last year.

ShapeShift CEO Erik Voorhees also gave his word in bitcoin's favor when he tweeted about how Bitcoin's business model was so mathematical and civilized while governments were politically and outmoded.

The Bitcoin inflation program is set for the next 100 years: transparent, unshakable and known to all parties. The calendar of inflation of the US dollar is not known even one year: opaque and manipulated quarterly. A mathematical and civilized model; the other politician and old-fashioned.

– Erik Voorhees (@ErikVoorhees) 28 October 2018

Everyone is aware of the potential that the bitcoin holds, it is only necessary to observe the implementation and the acceptance. If implemented and accepted well, Bitcoin would certainly have risen to higher levels.

What do you think of this goal set by Tim Draper? Let us know your opinions on the same

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication has no responsibility for personal financial loss.