Billionaire Tim Draper believes that Bitcoin is still cheap despite approaching the $100,000 level, and predicts that it could potentially reach $3 million. He sees Bitcoin becoming the dominant global currency, reducing the demand for fiat currencies. Draper considers the recent Bitcoin rally to be rational and believes that it will gain mainstream acceptance as a means of payment, coinciding with bank runs. However, his previous predictions of Bitcoin reaching $250,000 in 2022 and by the end of 2024 may not materialize. Currently, Bitcoin is trading at $94,864 after a 2.4% dip over the past week.



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