Billionaire Tim Draper is still bullish that bitcoin will reach $250000 by the end of 2022

Currently only a few major companies accept bitcoin directly or indirectly through a third-party digital wallet app, including Microsoft, PayPal, Overstock, Whole Foods, Starbucks and Home Depot.

“Then beyond that, I think continues up because there are only 21 million of them,” says Draper.

It is also meant to unlock the potential for smart contracts on the bitcoin blockchain, CNBC reported.

However, bitcoin’s value is volatile, and there are concerns over its enormous energy usage.

Bitcoin rose more than 7%, nearing $40,000 on Monday, according to Coinbase.

In 2014, when bitcoin was trading at around $500, he said bitcoin would top $10,000 within three years.

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