Tim Draper responds to rumors of on-chain transfers: denies transferring Bitcoin, target price remains at $250,000
By: rootdata|2026/07/04 10:42:08
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According to Cointelegraph, early Bitcoin investor and billionaire Tim Draper denied recent rumors about transferring a large amount of Bitcoin and stated that he "has not used any BTC assets."
Previously, the blockchain analysis platform Lookonchain cited Arkham data indicating that a "wallet possibly related to Draper" transferred about 1,000 BTC, worth approximately $62 million, to Coinbase Prime, attracting market attention.
The Arkham platform had labeled the related address as "Tim Draper" and noted that the wallet has a long interaction history with Coinbase Prime, but this label is based on AI inference, with limited confidence, and the true ownership cannot be confirmed.
Tim Draper stated that the related claims are untrue and reiterated his long-term view: Bitcoin will reach a target price of $250,000 within a year. Records show that Draper purchased nearly 30,000 BTC for about $18.7 million in 2014, with an average price of about $632, which is currently worth about $1.9 billion, making him one of the earliest well-known institutional investors in Bitcoin.
Meanwhile, Draper's $250,000 target price has been reiterated multiple times since 2018, but the timeline has continued to be pushed back, while Bitcoin's recent peak was about $126,080 (October 2025). The market still shows significant divergence regarding future trends.
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