RATE Group | Billionaire investor Tim Draper is hedging his $250,000 bitcoin price call
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Billionaire investor Tim Draper is hedging his $250,000 bitcoin price call

11 Aug Billionaire investor Tim Draper is hedging his $250,000 bitcoin price call

Posted at 02:33h in Bitcoin News by

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Billionaire investor Tim Draper has made headlines for famously predicting bitcoin’s price will reach $250,000 by 2022, and on Thursday he reiterated that call — albeit with a slight hedge.

During an interview with Yahoo Finance’s YFi PM to announce the launch of Grit BXNG, the boxing gym Draper invested in that will be the the first ever gym to accept bitcoin, he extended the timeline of his bitcoin call a bit to 2023.

“$250,000 by 2022, and I’m hedging a little, maybe Q1 2023,” he said. “It may be Q1 2023, but it will be [$250,000] before that.”

Interestingly, Draper didn’t increase his price target since bitcoin (BTC-USD) has seen a bit of a boost off the back of market volatility amidst an ongoing U.S.-China trade war dragged down stocks and global bond yields. That boost led many, including hedge fund founder Kyle Bass, to conclude bitcoin was being seen by some as a “digital gold” safe haven investment rather than just a speculative digital currency.

But…

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