Billionaire Tim Draper: Bitcoin will reach $250,000 within 18 months

On April 15th, CoinFeed reported that American venture capitalist and billionaire Tim Draper recounted his Bitcoin investment experience in an article on the X platform. He initially planned to buy Bitcoin at $4, but mining equipment supplier Butterfly Labs used the chips that were supposed to be delivered for its own mining. By the time Peter Viscenne received the chips, Bitcoin had already risen to over $30. Subsequent Bitcoin holdings through Mt. Gox were also lost due to the platform "losing" funds. Draper noticed that Bitcoin's price did not drop significantly after the Mt. Gox incident. His research revealed that Bitcoin was being used for remittances, paying wages to unbanked workers, and creating new economic opportunities. Therefore, he purchased all nine batches of Bitcoin at a U.S. Marshals Service auction for $632 (above market price).