Bitcoin investor and billionaire venture capitalist Tim Draper is still sticking with his prediction that bitcoin will reach $250,000 by the end of 2022 or early 2023 despite the huge downturn of things in the cryptocurrency market as of late.

Draper told CNBC “I think I’m going to be right on this one,” He first made this bold price prediction back in 2018 when bitcoin was trading at about $8000, according to Coinbase.

This is because Draper believes the currency is going to be “much more in use by then.” He says “I’m either going to be right or wrong [but] I’m quite sure that it’s going in that direction,”

Draper predicts that in about a year and a half from now a good number of retailers will be on Open node ( a bitcoin payment processor), so everyone will accept bitcoin.

Now 63 years old, Draper built his fortune by making early investments in Twitter, Skype, Tesla, and SpaceX (to mention but a few), he however refused to share how much bitcoin he holds or whether he has investments in other cryptocurrencies.

Featured image source: Forbes