Venture capitalist Tim Draper thinks bitcoin will hit $250,000 a coin by the middle of 2023, even after a bruising year for the cryptocurrency marked by industry failures and sinking prices.
$250k is still my number," Draper told CNBC via email.
Last week, veteran investor Mark Mobius told CNBC that bitcoin could crash to $10,000 next year, a more than 40% plunge from current prices.
Nevertheless, Draper is convinced that bitcoin, the world's largest cryptocurrency, is set to rise in the new year.
"I expect a flight to quality and decentralized crypto like bitcoin, and for some of the weaker coins to become relics," he told CNBC.