If You Invested $1,000 When Tim Draper Predicted Bitcoin Is Going To $10,000, Here's How Much You'd Have Now

One of the most vocal Bitcoin bulls over the years has been venture capitalist Tim Draper. In 2018, he made a bold prediction on the price of Bitcoin that ended up being right and early on the rise of the price of the cryptocurrency.

What Happened: Draper called Bitcoin (CRYPTO: BTC) a really interesting currency in a 2013 Fox Business interview. He came back on Fox Business on Sept. 23, 2014, and shared his bold prediction on the price of Bitcoin.

“I’m still predicting Bitcoin $10,000 per Bitcoin in three years,” Draper said at the time.

The thesis from Draper? Bitcoin is a hedge against many global currencies and also a way to send currency globally with ease.

The prediction was bold in the sense that Bitcoin traded at $413 at the time of airing. Draper was early with investments in many companies including Skype, Hotmail and Tesla Inc (NASDAQ: TSLA), which put some weight behind his prediction.

Bitcoin hit the $10,000 price point in November 2017, about three years after Draper’s prediction was made.

With the rising price of Bitcoin in 2021, Draper has doubled down and now has a price target of $250,000 by the end of 2022.

Related Link: Exclusive: Tim Draper On Bitcoin, Ethereum, When He Would Sell BTC

Investing In Bitcoin: In 2014, Draper purchased 30,000 Bitcoin at an average price of $600 as a bet on the growth in value and usage of the cryptocurrency. Draper is now up over $1 billion on his original Bitcoin purchase.

Bitcoin traded at $413 at the time the interview aired in 2014. Bitcoin hit a high of $441.56 on Sept. 23, 2014.

If you invested $1,000 in Bitcoin at the high price on the day Draper was interviewed by Fox Business, you could have bought 2.2647 Bitcoin.

Those 2.2647 Bitcoin would be worth $106,991.68 today based on a Bitcoin price of $47,243.20 at the time of writing.

Bitcoin has gained 10,599% since Draper’s interview aired on Fox Business.

Draper is a keynote speaker at this week's Benzinga Crypto Festival.