Tim Draper: Bitcoin will cost $ 250,000 by the end of 2024

Venture capitalist Tim Draper predicted the price dynamics of bitcoin BTC $55,950.57 Bitcoin -1.42% Market capitalization $1.1 trillion VOL. 24 hours $2.64 billion . The expert believes that by the end of 2024, the market leader could reach $ 250,000.

The investor emphasizes that due to certain factors, BTC will continue to grow steadily in the coming months. This will be facilitated by the upcoming bitcoin halving, which will keep the inflation of the first cryptocurrency under control.

«After its launch in January 2024, crypto funds received a record inflow of funds. This indicator shows that there is a strong demand for bitcoin,» Draper said.

The analyst notes that this cryptocurrency has opened a new path for investors interested in bitcoin. We are talking about an audience that may be scared off by the prospect of keeping the first cryptocurrency under their own control, but is ready to invest in it through reliable counterparties.

According to Draper, spot bitcoin ETFs also serve as a hedge against depreciating fiat currencies.

«I think it will give people the opportunity to buy some bitcoin and hold it so they can take care of themselves when the dollar or euro collapses,» the capitalist said.

Draper believes that the popularity of bitcoin is an additional catalyst for the rise in the value of the leading crypto asset. According to him, this contributes to the formation of demand for the crypto asset amid inflation problems in fiat currencies.