Billionaire Tim Draper: "Bitcoin to Hit $250K"

With a bank account value exceeding into the billions, venture capitalist Tim Draper says the bank is going to become virtual soon and that Bitcoin is going to hit $250,000.

Draper built his fortune on betting on early start ups like Hotmail, Skype, and Tesla.

Related: 3 Reasons Tesla Investor Confidence Matters Now

Will he be right about this too?

Bitcoin is Better Than Banks

“My money is at risk in banks. They’re being hacked all the time,” Draper tells FOX Business. “Bitcoin is probably the most secure of currencies right now.“ I see [this shift]happening faster than anybody ever imagined. I think within four years, around 2022, bitcoin is going to hit $250,000,” he says.

According to CoinMarketCap, the current price of bitcoin is around $8,300 on Thursday, May 17.