- Tim Draper calls Bitcoin a global hedge, citing its decentralization, immutable ledger, and deep liquidity across markets worldwide.
- He forecasted BTC reaching $10 million per coin, joining Michael Saylor’s ultra-bull camp despite past price target misses.
Tim Draper defended Bitcoin’s value amid a recent price drop that wiped out roughly \$1 billion in liquidations. He described Bitcoin as “valuable everywhere” and framed it as the ultimate hedge against unchecked government spending.
In uncertain times, one thing is valuable everywhere, #bitcoin. Travels across borders. Decentralized. Immutable. Liquid. Global. The ultimate hedge against government spending.
— Tim Draper (@TimDraper) June 22, 2025
In a recent post, Draper repeated his forecast that Bitcoin could climb to $10 million per coin. He and other enthusiasts like Michael Saylor have long predicted large gains, even as Bitcoin trades far below earlier targets. Draper first called for a $10,000 price in 2014 and then projected $250,000 by the end of 2022—an estimate that missed its mark.
Nevertheless, Draper maintains confidence in Bitcoin’s long-term outlook. He now expects the token to reach $250,000 in 2025, citing its borderless design and resistance to inflation. In his view, Bitcoin’s global reach gives it an edge over rival assets such as gold, especially if fiat systems face inflationary pressures.
In terms of on-chain activity, Bitcoin’s fundamentals remain robust. Exchange outflows have continued, with over $650 million in BTC withdrawn from major CEXs in the last 72 hours, reflecting sustained long-term accumulation behavior.
Glassnode and CryptoQuant report that short-term holders are the main contributors to recent sell pressure, while long-term wallets — defined by holding periods longer than 155 days — have remained net positive over the last three weeks.
One of today’s most significant developments is the formal ratification of the Texas Bitcoin Reserve Act, which went into effect at midnight. The law mandates that a portion of Texas’ state surplus will be held in Bitcoin, managed by a publicly auditable cold storage framework.
ETHNews analysts expect this to act as a precedent for other U.S. states and municipalities evaluating BTC as a treasury hedge, potentially creating a new class of state-level institutional demand.
Simultaneously, recent ETF data from BlackRock and Fidelity shows continued net redemptions, although outflows have slowed significantly compared to last week. Market strategists attribute this behavior to short-term macro uncertainty — including concerns over Fed policy shifts and liquidity tightening — rather than a loss of structural confidence in Bitcoin as an asset class.
In addition, there is growing discourse around Bitcoin’s scalability bottleneck resurfacing amid renewed Layer 1 congestion. ETHNews reports today that the Lightning Network remains underutilized in terms of capacity, and concerns persist regarding its ability to support future mass adoption, especially in the face of increasing institutional and sovereign-level traffic.
