The bitcoin rate has returned to growth again after the collapse last week. The price of the first cryptocurrency exceeded $ 50,000, exceeding the key psychological mark at the moment.
Bitcoin rose 8% in value and traded at $ 51,500 in US trading, reaching its highest level in a week. Last week, its price immediately fell by 21%, after which it began to recover. The recovery of the bitcoin rate is associated, among other things, with the fact that the famous investor Tim Draper shared a positive outlook for the future of the cryptocurrency.
The billionaire venture capitalist rose to prominence in the crypto community when he bought a batch of bitcoins confiscated from Silk Road founder Ross Ulbricht by the US Marshals Service. He bought 29,657 bitcoins at an auction in 2014 for $ 19 million.At the current exchange rate, their value exceeds $ 1.4 billion.
Then Draper said that within three years, bitcoin will rise in price from $ 400 to $ 10,000. Although many disagreed with his prediction, it came true within a few weeks. Remaining optimistic about Bitcoin, he announced in 2019 that the cryptocurrency will grow well above its previous peak of $ 20,000, which it reached at the end of 2017. In 2022 or early 2023, bitcoin will reach $ 250,000, the investor predicted then, although at that time the price of bitcoin was below $ 4,000.
Speaking on the Unstoppable podcast this week, Draper said he is still sticking to his 2019 prediction, adding that bitcoin will continue to grow and its price could increase by a factor of 100.
When asked what the next firms could enter the cryptocurrency market, Draper said it could be pension funds, to which more Fortune 500 companies could be added.
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