British investment advisor CrossBridge Capital MD said that Bitcoin will reach $250,000 in the next 3 to 5 years. The UK is ready. Fundstrat believes that Bitcoin is still in the early stages of its upward cycle, so the idea that Bitcoin may reach $150,000 this year is still within the agency's basic assumptions.

Billionaire Tim Draper, an early investor in Tesla (599.36, -18.33, -2.97%) and Twitter (60.23, -0.60, -0.99%), recently reiterated his prediction that Bitcoin will reach $250,000 by 2022.

Draper, one of the most prominent figures in the cryptocurrency space, bought 30,000 bitcoins seized by U.S. Marshals for less than $20 million in 2014. Those bitcoins are now worth more than $1 billion.

An early investor in Tesla, Skype and Twitter, Draper is known for his future-focused investments and has made billions in the process.

“I think I’m right about that,” he said in an interview this week. “I can either be very right or very wrong, (but) I’m pretty sure it’s heading in that direction.”

Draper's prediction is based on three reasons: First, he predicts that more retailers will accept Bitcoin payments in the next few years. Currently, only a few companies in the United States, such as Home Depot (306.45, -2.87, -0.93%), Microsoft (258.36, -1.53, -0.59%), PayPal and Starbucks (111.89, -0.56, -0.50%), accept Bitcoin as a payment method.

Secondly, Draper believes that the limited number of bitcoins that can be mined (only 21 million) is an advantage. Finally, he also believes that engineers are constantly working to improve the Bitcoin platform, making it more likely to remain sustainable, unlike some other platforms.

Bitcoin peaked at nearly $65,000 in April before plummeting to around $30,000. It has rebounded sharply in recent days after Musk said Tesla may still accept Bitcoin payments in the future. Despite the volatility of Bitcoin prices, Draper believes the overall trend will be bullish for the foreseeable future.

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Mark Yusko, founder and chief investment officer of Morgan Creek Capital Management, believes that the price of Bitcoin is expected to reach $250,000 in five years. Yusko said in an interview that increased adoption and usage of the network could help Bitcoin reach the $250,000 goal. Yusko also said that Dogecoin is one of thousands of tokens that have no underlying value and "will eventually disappear."

Yusko said on the show that this is a matter of increasing network popularity and usage. Bitcoin prices have grown exponentially, making it the fastest investment product in history to reach a market value of $1 trillion. Previously, it took FAANG 15 to 20 years to reach a market value of $1 trillion. Yusko said that if the monetary value of gold can reach $4 trillion in the future, Bitcoin will rise to $250,000.

Yusko points out that what people miss is that this is a technological evolution in computing power that is not going away.

In fact, it is not only Bitcoin that has risen this year. Litecoin and Ethereum have risen by three digits, while Dogecoin has risen by more than 13,000%. However, Yusko believes that Bitcoin is the gold standard in the crypto world, similar to TCP/IP, the underlying protocol of the Internet, which is the basis for allowing computers to connect and communicate. Cryptocurrencies like Ethereum are similar to "www." and are toolboxes built on this basis.

In Yusko's view, 1,000 cryptocurrencies, including Dogecoin, are tokens with no underlying value and will eventually disappear.