Tim Draper responds to on-chain transfer rumors: denies moving Bitcoin, maintains $250,000 price target

Odaily Planet Daily News 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, sparking market attention. The Arkham platform had labeled the relevant address as "Tim Draper?" and noted long-term interaction records between the wallet and Coinbase Prime. However, this label is based on AI inference with limited confidence, and the true ownership could not be confirmed.

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

Meanwhile, Draper's $250,000 price target has been reiterated multiple times since 2018, but the timeline has been continuously postponed. Bitcoin's recent peak was around $126,080 (as of October 2025). The market remains clearly divided on the future trajectory. (Cointelegraph)