Venture capitalist Tim Draper predicted on Oct. 28 that businesses would eventually accept only bitcoin, weakening demand for dollars and other government-issued currencies. This is a forecast, not a shift already under way: Square lets eligible U.S. sellers outside New York accept bitcoin while receiving dollars, so bitcoin payments can coexist with conventional money.
Draper’s $250,000 bitcoin price target dates to April 2018. His deadlines of 2022, mid-2023 and 2025 passed without the target being reached; he later renewed the forecast with an 18-month window implying October 2027.
