Legendary investor and Bitcoin fan Tim Draper has shocked crypto X with revelations of his historic bet on the premier digital currency.
Tim Draper’s 10x yield on dollar
In his revelation, Tim Draper said he invested 300 Bitcoin in a crypto startup, bagging a 4% stake in the unnamed company. He said the investment earned him 15 BTC in 10 years. While this figure appeared small as many on crypto X believed, Tim Draper highlighted how the earned returns marked a 15x return on his money when measured in dollar terms.
Many investors have different theories about investing their Bitcoin for equity. While Bitcoin has increased in value considerably over the 10 years, the actual spending power of the U.S. dollar has declined, making the investment worth it overall.
See if you can figure this one out. I invested 300BTC for 4% of a startup. they returned me 15 BTC 10 years later. In dollars, it was a 15X on my money. #bitcoin #dobusinessinbitcoin #Freedom #trust
— Tim Draper (@TimDraper) March 30, 2024
The revelation from Tim Draper has solidified another expert’s thesis on why Bitcoin is a better hedge against inflation. In Draper’s position, eventually, there is bound to be total Bitcoinization of the world. Draper’s optimism for Bitcoin’s luster is best showcased in his price projections overall.
He believes Bitcoin has the potential to soar to $250,000 by 2025, a prediction that is looking more likely by the day.
Bitcoin and multiple growth catalysts
In the Bitcoin ecosystem, there is a deep confidence that the digital currency will jump to unprecedented highs shortly. The spot Bitcoin exchange-traded fund (ETF) product in the United States and the forthcoming BTC halving event are fueling investor optimism to go long on the digital currency.
While the spot Bitcoin ETF products create the demand, the halving event will trigger a supply crunch, carving out a complimentary synergy that can help the valuation explode ultimately.
In line with the bullish fundamentals, other known Bitcoin bulls have even projected up to a $1 million target for the coin. Samson Mow is a major advocate of this price target.
Read the full article here
