Famous venture capitalist Tim Draper recently stated to Bloomberg, that the Bitcoin price could reach $250,000 and possibly even surpass that uber-bullish target.

Despite the market’s sharp decline, Draper is still standing by his prediction.

“It will only take a moment before you can buy your food and clothing in Bitcoin.

He also mentioned that women account for 80% of retail spending. Draper believes that Bitcoin will become mainstream. It’s going to happen quickly when women realize they can get a discount by using Bitcoin and retailers realize they can double their profits if they accept Bitcoin.

Venture capitalist and early backer of successful companies like Skype and Hotmail, the venture capitalist has predicted repeatedly that Bitcoin’s price would reach $250,000 by 2023.

Draper stated that the largest cryptocurrency could still reach the target in six months during a recent appearance at Web Summit.

Following the collapse of FTX, Bitcoin is now trading at $17,000 below its original level.

Draper stated to Bloomberg that the collapse FTX Exchange was ‘predictable,’ as the beleaguered cryptocurrency trading platform was highly centralized. It was all about one man. He said that bad things could happen when you centralize everything.