Legendary Investor Draper Expects Bitcoin to Hit $250K Within 18 Months
TL;DR
Tim Draper predicts Bitcoin will reach $250,000 within 18 months. The venture capitalist emphasizes his long-standing bullish outlook on the cryptocurrency market.
Key points
- Tim Draper predicts Bitcoin will hit $250,000
- Prediction timeframe is within 18 months
- Draper bought Bitcoin when it was priced at $4
Legendary venture capitalist and early cryptocurrency adopter Tim Draper is once again doubling down on his ultra-bullish outlook for Bitcoin.
The billionaire has predicted that the flagship cryptocurrency will surge $250,000 within the next 18 months.
I bought Bitcoin at $4. Or so I thought.
Peter Viscenne had offered to mine it for me. He bought some fast mining chips from Butterfly Labs, but rather than delivering them to him, they used them to mine their own bitcoin. Then when Peter finally got the chips, Bitcoin was over…
— Tim Draper (@TimDraper) April 14, 2026
From Butterfly Labs to the Mt. Gox debacle
Draper has revealed that his first attempt to acquire Bitcoin was back when the asset was trading at just $4.
He teamed up with Peter Viscenne to mine BTC and ordered mining chips from hardware manufacturer Butterfly Labs.
However, the manufacturer allegedly used the chips to mine Bitcoin for themselves instead of shipping the equipment.
Bitcoin was already trading above $30 by the time they received the mining hardware.
Draper then ended up losing his entire stash during the collapse of Mt. Gox, which was the leading BTC exchange at that time.
The price of Bitcoin remained surprisingly resilient. "It turned out that Bitcoin was being used for remitting money, paying unbanked employees, and creating economies where there weren’t any," he said.
Draper stepped in during the 2014 US Marshals auction of confiscated Silk Road assets, paying $632 per coin per coin.
Shortly after the massive purchase, Draper predicted that Bitcoin would hit $10,000 within three years. Despite drawing confused looks from the host, his forecast was spectacularly accurate.
Defending $250,000 prediction
Draperhas has admitted that his subsequent price targets "have not been so prescient." That said, he continues to stand by it.
"I have reason to believe that Bitcoin will reach $250k in 18 months," the billionaire stated in his latest post.
According to Draper, growing adoption and the ongoing degradation of traditional fiat currencies will be the key catalysts that will supercharge the next rally.
Q&A
What is Tim Draper's prediction for Bitcoin's price?
Tim Draper predicts that Bitcoin will surge to $250,000 within the next 18 months.
When did Tim Draper first buy Bitcoin?
Tim Draper first attempted to acquire Bitcoin when it was trading at just $4.
What does Tim Draper think about the future of Bitcoin?
Tim Draper has a very bullish outlook on Bitcoin, expecting significant price increases in the near future.
