Tim Draper is a renowned venture capitalist, founder of Draper University, and Meet the fabric artist TV series. He made early investments in Tesla, SpaceX and Coinbase and has 254,000 followers on X.
“Let my second prediction actually happen and then we’ll move on to the other predictions,” Tim Draper told Hall of Flame, declining to reveal price predictions for XRP and Ethereum.
This makes sense since it has been six years since he predicted that Bitcoin would reach $250,000 by 2022.
Spoiler alert: This is not the case.
That’s not to say it won’t eventually happen, as Draper has been very visionary in the past.
As early as 2014, after U.S. Marshals took down Silk Road, Draper robbed about 30,000 Bitcoins for $19 million. Fast forward to today, those Bitcoins have increased in value by 4,165% and are worth a whopping $810.5 million.
Around the same time, he predicted that Bitcoin would reach $10,000 within three years, and lo and behold, it hit that mark in 2017.
Draper explained that the reason he gave up on his $250,000 prediction was because people kept asking after he fully confirmed his first Bitcoin price guess.
“The only reason I gave a second prediction was because the first prediction was so good. I was under a lot of pressure to launch another product,” Draper said.
He politely requested that the Bitcoin deadline be extended to 250,000 coins, a timeline that would give a university lecturer a heart attack.
“Give me until the end of June next year,” he said.
Draper accused the U.S. government of screwing up his price forecasts. He had expected the development of blockchain to be reminiscent of the Internet age, similar to his early investments in companies such as Hotmail and Skype.
He emphasized that the United States has gained huge benefits by maintaining a hands-off attitude towards excessive Internet regulation.
“I expected a lighter touch, like Bill Clinton did with the Internet; they said, Hey, we have the Internet! We regulated the Internet, and Bill Clinton wisely left it alone, It’s great for the whole world.”
Invest in Alpha
Despite the media coverage, Draper doesn’t spend time making predictions; in fact, his schedule is packed.
The 65-year-old remains very active and is known as a serial investor, having invested early cash in companies such as Tesla, SpaceX, Coinbase and Theranos.
He likes to play basketball because it keeps him full of energy and helps him develop an investment mindset.
“When I’m playing basketball, I’m thinking about how I’m going to make the defender move one way, and then I’m going to move the other way,” he explained.
Draper claims he has alpha instincts both on the basketball court and in the investing world.
“I’m very aggressive; if I see something I like, I go after it immediately,” he said.
“I think as an investor, my investing is like playing chess because I’m always evaluating more than just the entrepreneur or the idea. But what happens if it works? How awesome can it be? Then What will the world look like?”
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What makes Twitter famous?
Draper started out with very few followers on Twitter.
“I think I have one Twitter fan, and that’s my mother,” he joked.
While you might think that one of Draper’s investments or media appearances helped his following skyrocket, he describes his growth as very organic and attributes it to the content he’s been posting over the years. Keep people coming back for more.
He’s proud of how “truly organic” his following is.
“I think my Twitter following is the most consistently growing of any influencer,” he declares.
What type of content can people expect?
Draper isn’t here to mess with his followers’ message with bullshit.
He strives to add a little value to their lives, and he only posts about three times a week.
“I tend to post content that I think people should see, or one of my startups is doing something extraordinary and I want to promote it,” he explains.
What does Tim Draper like?
Among the 2,400 accounts he follows on Twitter, he relies on a select group of trustworthy people to keep him informed about what’s going on in the crypto industry.
His trusted team includes Gemini founders Cameron and Tyler Winklevoss, Coinbase CEO Brian Armstrong, Ripple co-founder Chris Larsen and Silicon Valley investors Brad and Bart Stephens.
Tim Draper Prediction
Draper is so adamant about his 250,000 Bitcoin prediction that if it doesn’t come true, he will abandon the prediction entirely.
“If it’s not $250,000 or more, don’t listen to me,” he said with a laugh.
When asked about the chances of a Bitcoin ETF being approved, he didn’t sound hopeful.
“It may have to wait for (Republican candidate) Nikki Haley to be president,” he declared.
“Maybe it’s because they have an easy relationship with the banks, maybe it’s because they’re uncertain about it. Maybe a lot of people in our government are old, maybe they’re just out of touch with reality. But they’re missing something very important to the well-being of society. It’s something very important and I hope they all come around.”
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