Tim Draper Responds to On-Chain Transfer Rumors: Denies Moving Bitcoin, Maintains $250,000 Price Target

Odaily reported that Tim Draper, an early Bitcoin investor and billionaire, has denied recent on-chain rumors about transferring a large amount of Bitcoin, stating that he has "not touched any BTC assets."

Previously, blockchain analytics platform Lookonchain, citing Arkham data, reported that a wallet "possibly associated with Draper" transferred approximately 1,000 BTC, worth about $62 million, to Coinbase Prime, attracting market attention. The Arkham platform had previously labeled the address as "Tim Draper?" and noted the wallet's long history of interaction with Coinbase Prime. However, this label is based on AI speculation with limited confidence, and the true ownership cannot be confirmed.

Tim Draper stated the claims were false and reiterated his long-term view that Bitcoin will reach a $250,000 price target within a year. Data shows that Draper acquired nearly 30,000 BTC in 2014 for approximately $18.7 million, at an average price of about $632. These holdings are now worth approximately $1.9 billion, making him one of the earliest well-known institutional investors in Bitcoin.

Meanwhile, Draper's $250,000 price target has been repeatedly reiterated since 2018, though the timeline has been continuously pushed back. Bitcoin's recent peak was around $126,080 (October 2025). There remains significant disagreement in the market regarding the future trajectory. (Cointelegraph)