According to billionaire venture capitalist Tim Draper, Bitcoin is on its way to a remarkable price of $250,000 per BTC. Draper claims that Bitcoin is embarking on a parabolic rally that will result in gains of over 900% in under two years.

Draper initially predicted that Bitcoin would reach his target within six months of the FTX crypto exchange's high-profile collapse in December 2022, arguing that investors would likely turn to decentralized digital assets like Bitcoin. If Bitcoin fails to experience a dramatic rise by June of this year, Draper suggests that the timeline could be extended to the end of next year.

Draper, who made early investments in companies like Coinbase, Hotmail, Skype, Tesla, and Twitter, believes that the FTX collapse should serve as a warning to investors seeking to amass crypto assets controlled by a centralized entity. Draper is confident that his prediction will come true within 18 months.