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Tim Draper, a US venture capitalist, reaffirmed his long-term prediction for Bitcoin and criticized the current stance of US financial regulators in an interview with Bloomberg on Tuesday.
Long-Term BTC Prediction from US Investor
Draper, who has often stated in the past that the leading cryptocurrency Bitcoin could reach $25,000 in the long run, reiterated his prediction during the interview with Bloomberg.
On the other hand, Draper, pointing to $250,000 for Bitcoin in the long term, indicated that these price levels could take time and criticized the current approach of US regulators. He stated that this approach of financial regulatory institutions causes entrepreneurs to hesitate to invest.
Regulators Versus Crypto Companies
This is not the first time US investor Tim Draper has voiced his criticism of the current stance of financial regulatory institutions. A number of negative developments in the crypto ecosystem in recent years, such as the FTX bankruptcy and the Terra collapse, have led regulators to adopt stricter rules and stricter measures in crypto regulations.
In particular, tensions began to rise between crypto companies and regulators following lawsuits filed against Binance and Coinbase by the US Securities and Exchange Commission (SEC) in early June for violating securities laws. The SEC attracted various reactions from many well-known names in the crypto ecosystem following the lawsuits and garnered a lot of criticism.
