Renowned investor and Bitcoin enthusiast Tim Draper has surprised the crypto community with details about his groundbreaking Bitcoin bet. Draper revealed that he invested 300 Bitcoin in a cryptocurrency startup, acquiring a 4% stake in the unnamed company. Over the course of 10 years, this investment yielded him 15 BTC. Although this may seem like a modest return to some, Draper emphasized how the returns translated to a 15x increase in value when measured in dollars.
Draper’s revelation further reinforces the belief held by many experts that Bitcoin serves as a better hedge against inflation. As the purchasing power of the US dollar has decreased over the past decade, investing in Bitcoin has proven worthwhile in the long run.
In a tweet, Draper challenged readers to figure out the significance of his investment: “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.”
Draper’s positive outlook for Bitcoin extends beyond his own investment. He believes that Bitcoin has the potential to reach $250,000 by 2025—a prediction that gains credibility with each passing day.
Several catalysts are expected to contribute to Bitcoin’s growth. The introduction of a spot Bitcoin exchange-traded fund (ETF) in the US, as well as the upcoming BTC halving event, have instilled confidence in investors and sparked a surge in demand for the digital currency. The reduction in supply resulting from the halving event is expected to further boost Bitcoin’s value.
In line with this optimistic sentiment, other prominent Bitcoin enthusiasts, such as Samson Mow, have projected even higher price targets for the coin, with some suggesting it could reach $1 million.