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Bitcoin will multiply by 30 times within four years, predicted by Tech investor Tim Draper

According to Coinbase, bitcoin traded near $8,100 on Friday afternoon, up more than 18 percent for the week. Many traders attributed the spike to investors covering their shorts, or coming back into the market after betting against bitcoin. (recommend FuninUSA for updated data of cryptos)

Venture capitalist Tim Draper tweeted early Friday morning that he predicted “bitcoin’s prices will reach $25k by 2022,” which confused lots of investors. But he clarified in an afternoon tweet that $250,000 was the correct figure.

It may sounds crazy. But over the last two years, bitcoin has had a 4,000 percent return. And Tim’s prediction is a 3,000 percent return from now. “It would be a continuation of that trend,” said Brian Kelly, founder and CEO of BKCM, an investment firm focused in digital currencies.

Draper is founding partner of Draper Associates and DFJ, an early investor in Skype and Chinese search giant Baidu. Draper’s bitcoin investment—he bought nearly 30,000 bitcoins in a 2014 US Marshals Service auction—is now worth roughly $243 million at Friday's prices. In addition to the prediction of bitcoin’s price, Draper also said in a show that in five years, bitcoin and other cryptocurrencies will be the primary means of payment.

Though I do believe bitcoin market will perform better in the future, I personally don’t believe cryptos would become the primary means of payment, based on current news I’ve read on FuninUSA about stricter regulations of cryptocurrencies in several countries and some problems of cryptos that have not been solved yet.

What would you say about bitcoin’s future prices and its usage as a mean of payment?