[Digital Today reporter Yoonseo Lee] Legendary investor Tim Draper said bitcoin's value against the U.S. dollar could rise to "infinity" over the long term.

On Aug. 11 (local time), blockchain media outlet U.Today reported that Draper saw the spread of bitcoin payment adoption potentially changing the existing financial system itself over the long term.

Draper said on X, formerly Twitter, that companies' approach to accepting bitcoin will also change as bitcoin payments spread. "At first they will say, 'We accept Bitcoin,' but later they will say, 'We only accept Bitcoin,'" he said. He added that large-scale deposit withdrawals from banks could lead to a fundamental shift in the financial system.

He said the end point of this flow is that "Bitcoin could ultimately go infinite against the U.S. dollar."

A crypto-friendly environment by U.S. state is also a factor to watch. Texas rose to 4th in U.S. rankings as of March 2026 and Oklahoma climbed to 15th, according to the "Draper Innovation Index" released by Draper. He explained that crypto and blockchain investment affected the rise in these states' rankings.

Despite concerns about technological threats, Draper maintains his bullish view on bitcoin. In June, he said quantum computing is more likely to threaten the existing banking system before bitcoin. In a March interview, he also compared the shift from traditional banks to bitcoin to the transition in transportation from horses to cars.

Over the long term, he is sticking to his $250,000 bitcoin forecast. In April, Draper again said bitcoin could reach $250,000 within 18 months, citing broader adoption and erosion in the value of fiat currencies. Bitcoin is currently trading below $64,000, meaning a substantial rise remains to reach the target price.

Draper's $250,000 forecast is drawing attention in particular because the target timing has been revised several times. In 2014, he predicted bitcoin would reach $10,000 within a few years, and bitcoin rose above that price in November 2017. Then in 2018 he forecast it would hit $250,000 by the end of 2022, but that did not happen.

The target timing was pushed back again after that. Draper set 2024 and 2025 as new deadlines, and in November 2024 he again put forward forecasts of $120,000 by year-end and $250,000 in 2025. Those deadlines have also passed.

Even so, Draper has again set a $250,000 target this year. It would need to rise about 290 percent from current levels to reach that. Bitcoin payment adoption is expanding, but a large gap remains between Draper's long-term outlook and actual price moves.

First they’ll say, “We accept Bitcoin.” Then they’ll say, “We only accept Bitcoin.” Then there will be a run on the banks. Then the world as we know it will fundamentally change forever as Bitcoin goes infinite against the US dollar. pic.twitter.com/Gl75HihujT