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Tim Draper says BTC could reach $250,000 within 18 months. What is his basis?

Venture capitalist Tim Draper has again said bitcoin could reach $250,000 within 18 months, citing inflation pressure and a weakening dollar. He linked the view to shifts in the macro environment and said even higher levels could be possible if bitcoin rises while the dollar falls. Draper also revisited his bitcoin investing history, including losses tied to Mt. Gox and a 2014 U.S. Marshals Service auction purchase.