The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Tim Draper Says Paradigm Shift Will Bring Bitcoin (BTC) to $250,000, Reveals Move to Crypto As Dow Plunges 1,000 Points

by Daily Hodl Staff
February 25, 2020
in Bitcoin

The Dow Jones Industrial Average dropped 1,031.61 points, or 3.56%, on Monday, the third biggest daily point drop in Dow’s 124-year history. As the US stock market tumbles, billionaire investor Tim Draper reveals he moved out of the market six months ago.

In an interview on CNBC’s Squawk Alley, the founder and managing partner of seed-stage venture capital firm Draper Associates says that most of his assets are now in crypto.

“I’ve got to admit, I have been out of the market for about six months. It felt pretty lofty for me, and I kind of moved most of my stuff to crypto and Bitcoin. I think that’s kind of a safe haven now, and I think this correction, it may end up being more than that, but I think we’re in for a kind of an interesting ride.”

In December of 2019, Draper predicted that the price of Bitcoin would soar to $250,000 after the May halving event. The price of the cryptocurrency crossed the $10,000-mark earlier this month, but even with the correction that followed, bringing BTC back to $9,575, the billionaire venture capitalist says he stands by his lofty Bitcoin prediction.

“I think Bitcoin in 2022, or the beginning of 2023, will hit $250,000, and that is a big move from where it is here. I think that the reason there is that Bitcoin will be the currency of choice.

Bitcoin is not as easy to move around, but eventually it will be, and then you’ll have a choice. You’ll say, ‘hey, do I want to pay the banks two and a half to four percent every time I swipe my credit card?’, or ‘do I want a currency that’s frictionless, open, transparent, global and not tied to any political force?’

I mean this is it. At some point, people are going to make that switch, and Bitcoin is going to be the big winner.”

Draper is confident that Bitcoin will be the currency of the future.

“People move to things that are better. What merchant is going to want to pay their two and a half to four percent to the banks and the credit card companies?

I mean, they’re not going to want to do that forever. At some point, they’re going to say ‘hey, this Bitcoin, why don’t we accept Bitcoin because we can now use Open Node and the transaction happens instantly, and it’s faster than a Visa network, and we don’t have to pay these guys two and a half to four percent.’

This is kind of an interesting time. It’s an obvious thing for me. I think the world is going to be much better off because of this decentralized movement.”

As for crypto skeptics like Warren Buffett who think Bitcoin has no value, Draper says fear drives their negative stance on cryptocurrency. He cites Buffett’s holdings in banks and insurance companies as reasons why the Berkshire Hathaway CEO has much to lose in a decentralized economy.

“He sees a huge threat to his holdings. His holdings are more than 50% in banks and insurance companies in Berkshire Hathaway, so clearly he’s not gonna want this new currency.

Everyone who has studied it knows it’s so much better than what we have out there. These currencies that are tied to fiat government are, I think, they’re just going to be a relic of the past. It’ll be like holding drachmas and francs.”

Draper adds that a rough road is ahead for traditional investors once a decentralized world takes over.

“I wouldn’t hold an insurance company right now. I mean that they are not in good shape going for the next 10 years. Things are going to change very big.”

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/NAS CREATIVES

Submit a Press Release

Industry Announcements

  • Pendle Settles $69.8 Billion in Yield Bridging the $140T Fixed Income Market to Crypto
    October 21, 2025
  • Limitless Prediction Market Closes $10 Million Seed Round Ahead of LMTS Token Launch
    October 20, 2025
  • Whale.io Introduces Crock Dentist Game and Exclusive RWA NFT Collection
    October 20, 2025
  • Sui Ecosystem Gaming Protocol Jackson.io Launches Native Token JACKSON – Phase One TGE (24%) Officially Begins
    October 20, 2025
  • Jupiter Launches Ultra Version Three – The Ultimate Trading Engine for Solana
    October 20, 2025
  • Crypto-Powered BC.GAME Esports Unites s1mple and Electronic for CS2 Run
    October 19, 2025
  • Billionaire Tim Draper Leads $3.2 Million Seed Round for Ryder To Replace Seed Phrases With TapSafe Recovery
    October 18, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$107,908.91
$107,908.91
3.08%
Ethereum
$3,888.66
$3,888.66
4.53%
BNB
$1,073.39
$1,073.39
4.86%
Solana
$184.48
$184.48
4.75%
XRP
$2.43
$2.43
1.56%

Spotlight

  • Interpol Dismantles Massive $439,000,000 Financial Scam Syndicate in ‘Operation HAECHI’
    October 14, 2025
  • Singapore High Court Greenlights Crypto Exchange WazirX’s Restructuring Scheme Following Last Year’s Massive $230,000,000 Hack
    October 14, 2025
  • Crypto Trader Says Solana Challenger Primed to Surge to New All-Time Highs, Updates Outlook on Dogecoin, Sei and PENGU
    October 14, 2025
  • Crypto Investment Products Amass $3,170,000,000 in Weekly Inflows Despite Market Turmoil: CoinShares
    October 14, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl