TechFlow reports that Silicon Valley investor Tim Draper reiterated his confidence in Bitcoin during a Bloomberg interview, maintaining his prediction that Bitcoin will reach $250,000 by 2025.
Draper believes Bitcoin is gaining popularity in countries with unstable currencies, where people increasingly prefer using Bitcoin for transactions.
"There will come a day when I can buy food, clothing, and shelter with Bitcoin," Draper said. "People won't need the U.S. dollar anymore."
He predicts Bitcoin will become dominant in the financial system, especially in decentralized finance and non-fungible tokens. Viewing stablecoins as a transitional phase, he foresees Bitcoin driving a fundamental transformation of the global financial system.
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