He’s no longer a cryptocurrency billionaire, but he believes bitcoin will recover. He predicted a price reduction to $250,000 within a year.
The former crypto billionaire is hopeful.
“Former cryptocurrency billionaire” means an investor with a $1 billion crypto portfolio before the bear market. Vitalik Buterin experienced this without becoming poor.
Draper bought 30,000 bitcoins for $18.7 million in 2014. At a Marshals Service auction. BTC once cost $623. 30,000 BTC times $20,000 equals $600 million.
Draper believes the cryptocurrency market crisis is temporary. He’ll need time, but he’ll recover.
He predicted bitcoin will hit $250,000 in a year for this reason. This will happen by 2022 or 2023.
“I’m sure this will happen. By 2022 or 2023,” he told Forbes in January.
And he’s not the only one predicting a new bitcoin ATH soon. Blockstream CEO Adam Back predicted $100,000 during the same period. PricewaterhouseCoopers fund managers predicted the same for 2022.
Bitcoin billionaires are fewer.
Forbes listed 19 crypto billionaires in April. Changpeng Zhao was first with $65 billion. Sam Bankman-Fried and Brian Armstrong each had $24 billion.
Some of these people have been unlucky. Many lost their positions during the bear market. Forbes lists 7 crypto billionaires.
They include:
- Fred Ehrsam, Coinbase co-founder, had $2.1 billion in cryptocurrency in March and $900 million now;
- Michael Saylor spent $4 billion on bitcoins. His fortune is now $700 million, but he still buys BTC;
- “ Bitcoin is going to outlive us all. I am quite sure of it ”. That’s the prediction of Saylor, the most publicized crypto-enthusiast around.
