The Bitcoin price is currently around $10,000 which is the highest figure since 2020. Even the much-awaited event of Bitcoin is close, and its rally to $10k gives us a hint that the top leading asset is going to hit a new record. The famous American investor again claims that the price is moving to achieve $250,000 by 2023 in a webinar session.
Tim Draper, the famous venture capitalist, says that in the coming years, we will see a mass level adoption of Bitcoin which would surge the price value up to $250,000. He is known in the crypto community for giving a very bold prediction about the price of the top digital asset.
Crypto Ecosystem is Expanding
The major crypto exchanges keep on increasing the employees because they are foreseeing the crypto adoption on a large scale. The adoption on large is the major factor why Bitcoin price should go up, leaving behind all traditional assets. “Bitcoin is growing, Coinbase is growing, OpenNode is growing, the number of wallets around the world is growing,” Draper said in AIM Summit webinar.
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According to a new report, the miners’ revenue surged in April as compared to March. This is due to the increase in value, and they will also get benefit more than ever due to the next coming rally after the halving event. Draper believes that small level miners will not leave the ground as they will get optimum profit from mining.
Due to the Coronavirus pandemic, the traditional assets, as well as institutions, get a strong hit which results in a loss of trust on fiat due to its decreasing value. Bitcoin takes the benefit of decreasing status of fiat. A famous crypto analyst, @MagicPoopCannon, said:
“…there’s one thing that I think can really propel crypto to new heights at this point — and that’s a loss of confidence in traditional fiat currency systems. Given the extraordinary worldwide debt crises, and the absolutely reckless monetary expansions of global central banks, we could see a loss of confidence in fiat soon enough.”