Venture capitalist and tech billionaire Tim Draper predicts bitcoin will reach $250,000 by 2022

Venture capitalist and tech investor, Tim Draper, confirmed Friday afternoon that he predicts bitcoin will reach $250,000 by 2022. “I’m thinking $250,000 a bitcoin by 2022,” Draper said on Reddit. “Believe it. They’re going to think you’re crazy, but believe it. It’s happening and it’s going to be awesome!” Draper is an avowed cryptocurrency bull. The price of Bitcoin has jumped by over $1000 in just one week. The price of Bitcoin is currently at $8,091.85 Friday afternoon. It has been up more than 18 percent for the week. Time Draper is not alone in his prediction. Wall Street strategist and and Fundstrat Global Research’s Tom Lee, expects Bitcoin to reach $20,000 by the middle of the year and $25,000 by the end of 2018.

In an initial Twitter post, he predicted a price of $25,000 by 2022 sending confusion to followers and fans. He later made a clarification, saying he now expects Bitcoin to reach $250K by 2022. “Oops! I predicted $250k in 2022. My tweet last night was missing a zero. $250k is the number!,” the tweet reads.

Oops! I predicted $250k in 2022. My tweet last night was missing a zero. $250k is the number!

— Tim Draper (@TimDraper) April 13, 2018

Draper is the founding partner of Draper Associates and DFJ, an early investor in Skype and Chinese search giant Baidu. In July 2014, Draper received wide coverage for his purchase of 30,000 bitcoins at a US Marshals Service auction, from seized bitcoins from the Silk Road marketplace website.

Draper is best known as the founder of the popular Draper University. His father is the founder of Draper & Johnson Investment Company and former chairman and president of the Export-Import Bank of the United States. Tim Draper graduated with a BS in electrical engineering from Stanford University in 1980, and later earned an MBA from Harvard Business School in 1984.

You can watch the rest of his speech on the video below.