By Anand Sinha

Billionaire venture capitalist Tim Draper has never shied away from advocating Bitcoin (BTC), no matter what Wall Street thinks.

Draper was among the earlier investors in Elon Musk's Tesla (Nasdaq: TSLA) in 2006, long before the EV car maker experimented with Bitcoin payments and built a digital asset treasury (DAT) dedicated to BTC.

In fact, the investor was among the first billionaires to buy Bitcoin as he spent $19 million to buy 30,000 BTC being auctioned by the U.S. Marshals Service that it had seized from Silk Road in 2014.

He has also invested in top crypto companies like Coinbase (Nasdaq: COIN) and Robinhood Markets (Nasdaq: HOOD).

Related: Billionaire Tim Draper tells James Heckman buying gold is “going back to the past”

Draper's deep involvement with crypto

Draper is a strong believer in Bitcoin and believes it's the currency of the future.

One time, he said that not owning the cryptocurrency is irresponsible. He also believes retailers will one day accept only Bitcoin payments.

Draper has even invited crypto streamers to join his online channel, DraperTV, on Pump.fun, the Solana-based meme coin launchpad. DraperTV lets you watch content featuring Draper and other leading entrepreneurs.

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Draper reiterates bullish Bitcoin target

Draper has repeatedly predicted that Bitcoin will hit the price target of $250,000. Only, the deadline keeps getting extended.

As reported earlier, he once expected it to hit the target by the end of 2025. Now, he has extended the deadline toward the end of 2027.

On Apr. 14, Draper wrote a long X post and talked at length about his Bitcoin journey. From losing all his Bitcoin holdings to the Mt. Gox crash to buying the cryptocurrency from the U.S. Marshals auction, he has seen it all.

Though he admitted that his Bitcoin predictions haven't been prescient lately, he said he has reason to believe that Bitcoin will reach $250,000 in 18 months.

In fact, it will surge even higher as the U.S. dollar falls prey to inflationary pressures, he added.

The highest price Bitcoin ever hit was $126,080 on Oct. 6, 2025. Since then, it has struggled to recover and was trading 40% lower at $74,271.20 at press time.

Related: Early Tesla investor Tim Draper says not owning Bitcoin is ‘irresponsible’

This story was originally published by TheStreet.

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