Major cryptocurrencies lost a huge chunk of their value in the recent market crash after they attracted severe criticism for driving up fossil fuel use and a Chinese crackdown on their trading.
Draper’s proposed timeline is still more than a year away and he said his prediction will hold as more people would start trading in cryptocurrencies by then.
Draper has also based his prediction on a potential increase in demand with more people using them as only 21 million Bitcoins are available to be “mined” in total.
Speaking about Dogecoin, which has been repeatedly supported by Tesla and SpaceX CEO Elon Musk, he said it may have potential because “it makes us all smile” but engineers are not working on it and all of them are focused on Bitcoin.
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