Draper, speaking on a podcast on Monday and later mirroring his views on social media platform X, described Bitcoin as one of the most attractive asymmetric bets against fiat currencies, especially the US dollar.
In his opinion, Bitcoin’s price trajectory unfolds in stages: at first, to $250,000, then proceeding to $1 million, and finally it gets to $10 million as confidence in traditional currencies fades.
The most aggressive prediction of Draper is in the short term, where he predicts Bitcoin will reach $250,000 in the next six months, citing the continuous growth of the network and what he considers to be declining trust in government-backed currencies.
According to him, the adoption of Bitcoin is rapidly growing while the fiat systems are losing purchasing power and credibility.