Venture capitalist Tim Draper predicts that Bitcoin will reach a value of $250,000 by 2025.
In a previous interview with Bloomberg, he expressed frustration with US authorities preventing institutional investors from entering the cryptocurrency market.
Draper believes that legalizing the industry in the country will lead to long-term strengthening of BTC, as it will become more attractive to investment companies and hedge funds.
He has reiterated this stance and highlighted the importance of Bitcoin reaching the $250,000 mark this week.
Draper stated that if BTC fails to reach this milestone, his predictions should not be taken seriously. While he does not exclude the possibility of spot Bitcoin ETFs becoming legalized, he declined to provide a timeline for when they may appear on the American market.