“Speaking at a debate Saturday, permabull Tim Draper of Draper Associates affirmed his optimistic outlook for bitcoin. When asked how bitcoin compares with some of his earlier investments like Tesla and Skype, Draper pulled no punches,” according to MarketWatch.
Related: 6 Crypto Strategies You Need to Use
Draper has a price target of $250,000 for bitcoin by 2022.
There is significant room for growth in the cryptocurrency universe. Recent data suggest a small amount of American investors own any digital currencies and, after bitcoin, the numbers of crypto ownership dwindle.
For more information on the cryptocurrency market, visit our Bitcoin category.