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Bitcoin [BTC] will be $250,000 by 2022, says Tim Draper

Ajay Narayan

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Bitcoin [BTC] will be $250,000 by 2022, says Tim Draper
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Tim Draper, one of the famous venture capital investor was recently present at an interview conducted by Forbes along with his son Adam Draper.

The interview covered their views on how Bitcoin [BTC], cryptocurrency, and blockchain could change the developing world. Both Tim and Adam have been promoting Bitcoin from its early stages. Tim Draper is also the founder of the Draper University and had acquired 40,000 BTC during the silk road collapse in 2014. Adam is the Managing Director at Boost VC which aims at investing in Bitcoin startups.

Both Adam and Tim were asked to state their views on the new cryptocurrencies entering the market. Adam opined that it was amazing to see so many entrepreneurs working towards changing the world with the help of decentralization. According to Tim, it was a mix, some cryptocurrencies could have a profound effect on the government and industries. He added that the rest was just a copy of Bitcoin and had no reason to exist.

The duo was also asked to share their perspective on the existing problems in the blockchain technology platform. Adam spoke about the problem of providing true value to its consumers without any errors and the usability of the products. Tim opined that Blockchain technology was a very creative platform and needed more time to mature. Tim stated that he would want to make all his payments through BTC so that all the accounting could directly be done on the blockchain. He added:



“I look forward to seeing geographic borders dissolve around the world”

Another topic of discussion was how the blockchain platform would look like by 2022 or beyond. Adam stated that nobody would use the words cryptocurrency or blockchain in the future because it would be integrated into all technologies by then. He added:

“The same way that no one says, ‘I am starting an internet company’, even though every startup is one”

According to Tim’s prediction, Bitcoin [BTC]’s price would surge to $250,000 by the end of 2022. Furthermore, there would be a major shift over the next four years where Bitcoin, Blockchain and Smart contracts could improve the quality of doing business.





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Ajay Narayan is a full-time journalist at AMBCrypto. He has majored in Economics, Political Science and Sociology. His interests are inclined towards writing and investing in cryptocurrencies.

Bitcoin

Bitcoin’s [BTC] dump may have triggered migration of BTCs worth hundreds of millions

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Bitcoin's [BTC] dump may have triggered migration of BTCs worth hundreds of millions
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Bitcoin dropped by 3.55% over 3 hours, an approximate drop of $200, causing many altcoins to dip by more than 8%. Although it might be a coincidence, thousands of Bitcoins started to migrate from wallets to exchanges, wallets to wallets, and exchanges to wallets.

Whale Alert, a Twitter user, pointed out the same in his tweets. A total of  25,000 BTC were sent in under 20 minutes, in multiples of 5000 BTC each, in a wallet to wallet transaction. Two of these transfers were initiated from an unknown wallet [3BYv2L9zCFYpvRQXakqkVWa7JyRw6Q9ZAm] to two other unknown wallets [3PWNGS2357TnjRX7FpewqR3e3qsWwpFrJH, 3CAF6ZjtJKaHiJixViXncTRwG3N5ss9vn4].

These 5 transfers were worth approximately $140 million. The third transfer took place from multiple wallets to a single wallet [3HuUiXmKN3beQSoM97kWjK1fesWWJvKvaZ].

Additionally, there were two massive transactions that took place two hours after the drop; the first transaction involved 14,999 BTC, while the second involved 11,000 BTC.

The former transaction was sent from two wallets to a single wallet [3GaB3nRWA1PLc3XQkkbpVtFwYYZEuMxD4i], which is the balance of the wallet. The latter transaction was similar to the one mentioned above, as the transaction originated from two wallets.

Another transaction containing 9,000 BTC was transferred from 357R3FeNmySYeHuRfyhFd6nMwzoLDdjfwV to 3NmHmQte2rP8pS54U3B8LPYQKkpG1pFF69. The sender has approximately 9,412 BTC after the transfer, while the recipient has 9,000 BTC.

All of the above transactions were worth approximately $332 million. The massive BTCs transferred could be due to the recent fall in the price. It can also be speculated that BTC whales were securing their profits earned from the shorts.

A Twitter user @Emperor_YZ commented,



“and who say the fee is high, just 30,360 sat ($1.67)🤔 for a $82.37 million transfer …”

Another user, @Omarin0, commented,

“It would have also been 1.67$ for a 1.67$ transfer. 100% fee. How nice”

@Emperor_YZ replied,

“wrong, you can use LN or other layer 2 apps to do small amount payments 😎 for BTC base layer, network security is always top priority, L2 is super cheap and can settle at base layer later”





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