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Female User Propels Bitcoin Rally to $250,000

Tim Draper told veteran crypto trader Scott Melker that he insists that Bitcoin will rise to $250,000 this year. He remains enthusiastic about investing in Bitcoin despite its price slipping at this stage.

Tim Draper also emphasized that merchants currently operating with thin margins have not realized that they can save a lot of money by accepting BTC payments instead of credit cards.

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Will Tim Draper's predictions be proven wrong?

It is worth noting that Tim Draper believes that Bitcoin's prediction of reaching $250,000 may also be realized in early 2023. And this is not the first time Tim Draper has made bold predictions about Bitcoin, and he has emphasized it many times before.

At an auction in 2014, Tim Draper spent $18.5 million to buy some of the bitcoins seized by the U.S. Marshals. At today's market prices, the bitcoins Tim Draper bought at the time are now worth about $870 million. Over eight years, it has been an investment that has paid off handsomely.

Currently, Bitcoin is trading around $29,306. For Bitcoin to reach a price of $250,000 by the end of the year, a rise of about 862% would be necessary. Time will test the prophecy.