He is no longer a cryptocurrency billionaire but firmly believes that bitcoin will rise from the ashes. This is why he prophesied a price review to $ 250,000 within a year.
The former crypto billionaire is not running out of hope
With a “former cryptocurrency billionaire”, we mean an investor with a well-funded portfolio of crypto assets worth over $ 1 billion long before bear market. Some people like Vitalik Buterin know this kind of situation without being poor.
To give you an overview of Tim Draper’s cryptocurrency holdings, he acquired 30,000 bitcoins in 2014 for a whopping $ 18.7 million. He was at an auction organized by the U.S. Marshals Service. Sometimes the BTC price was set at $ 623. Increased by $ 20,000, the 30,000 BTC will bring in about $ 600 million.
Don venture capital Draper is doing, this crisis in the cryptocurrency market will only be temporary. It will take time to get back in the saddle, but its recovery is bound to happen.
That’s why he predicted that bitcoin would hit $ 250,000 within a year. Specifically, this will happen towards the end of 2022, or during the year 2023 at the latest.
” I am more convinced than ever that this is happening. By the end of 2022 or the beginning of 2023 “, He said in an interview with Forbes in January.
And he’s not the only one predicting a new bitcoin ATH by the end of the year or in the near future. Blockstream CEO Adam Back, for example, was predicted to hit $ 100,000 over the same period. We also saw the same predictions from fund managers surveyed by PricewaterhouseCoopers by the end of 2022.
The number of cryptocurrency billionaires has declined
Last April, Forbes compiled a list of 19 cryptocurrency billionaires. This ranking put Changpeng Zhao in the first place with 65 billion dollars in his pocket. This was followed by Sam Bankman-Fried ($ 24 billion) and Brian Armstrong ($ 6.6 billion).
Unfortunately, the story was not kind to some of these people. In the context of the bear market, many have lost their position. Currently, Forbes lists only 7 cryptocurrency billionaires.
Ex-crypto billionaires include:
- Fred Ehrsam, co – founder of Coinbase, which held $ 2.1 billion in cryptocurrencies in March, now only $ 900 million;
- Michael Saylor, head of MicroSstrategy, spent $ 4 billion buying bitcoins. It is acknowledged that his fortune is currently worth $ 700 million, but this has not prevented him from buying BTC again;
” Bitcoin will last us all. I’m pretty sure “. That’s the prediction of Saylor, the most publicized crypto-enthusiast around.
CZ, whose fortune has been revised from $ 24 billion to $ 20 billion since March, does not hide his hopes. On a tweeter, he explained:
” Bear markets are where I most expect. »
Of course, skeptics will see this downgrade of crypto billionaires as sharp weapons to harm novices. What is certain is that their arrows will not be able to reach the accommodationthe real investors.
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