Tim Draper refutes Bitcoin transfer claims, maintains $250K BTC price target
Following blockchain analysis suggesting he transferred 1,000 BTC to Coinbase Prime, Tim Draper denies the Bitcoin movement and restates his price prediction.
Veteran investor and prominent Bitcoin advocate Tim Draper has refuted claims that he moved his Bitcoin holdings following reports from blockchain analytics firms connecting him to a substantial BTC transaction sent to Coinbase Prime.
"Haven't touched my BTC," Draper stated to Cointelegraph on Friday, further maintaining his projection that Bitcoin will hit $250,000 within the next twelve months.
Draper's response followed a Thursday report from blockchain analytics service Lookonchain, which indicated that a cryptocurrency wallet "possibly linked" to the billionaire investor had sent 1,000 Bitcoin valued at approximately $62 million to Coinbase Prime, referencing information obtained from Arkham.
This incident underscores the increasing importance of blockchain analytics tools in monitoring significant cryptocurrency movements while simultaneously demonstrating the difficulties associated with definitively verifying wallet ownership without direct confirmation.
Draper bought nearly 30,000 BTC in 2014
Within the cryptocurrency space, Draper gained prominence as one of Bitcoin's first major institutional backers, successfully bidding in a US Marshals Service auction for approximately 30,000 Bitcoin that had been confiscated by federal authorities from assets connected to the Silk Road marketplace in 2014.
Based on Forbes reporting, Draper's winning bid totaled approximately $18.7 million, translating to roughly $632 for each Bitcoin, with those same holdings now valued at around $1.9 billion at current market prices.
The wallet in question carries the label "Tim Draper?" on Arkham's platform, a designation that suggests uncertain attribution, though the company has not made public its reasoning or evidence supporting this classification.
Historical transaction records for the wallet reveal multiple exchanges with Coinbase Prime throughout the previous year, including a 1,000 Bitcoin deposit received from Coinbase Prime on July 9, 2025, during a period when BTC was valued at approximately $115,880 per unit.
A request for comment was sent to Arkham by Cointelegraph seeking clarification on their attribution methods and whether other wallets potentially connected to Draper have been identified, though no reply had been obtained before this article's publication.
Draper's $250,000 Bitcoin forecast repeatedly missed timelines
The billionaire investor's renewed affirmation of his $250,000 Bitcoin price projection continues a pattern of predictions that have consistently failed to materialize within previously stated timeframes.
Draper has maintained this identical price forecast since no later than 2018, originally anticipating Bitcoin would achieve this valuation by the end of 2022 or the beginning of 2023. Nevertheless, Bitcoin's all-time high remains $126,080, reached on Oct. 6, 2025, per CoinGecko data. As of this writing, Bitcoin was changing hands at approximately $62,530.
Other prominent Bitcoin advocates envision even greater appreciation potential, with Blockstream's CEO Adam Back projecting Bitcoin might ultimately trade between $500,000 and $1 million, suggesting this achievement could occur "closer than people think."
Larry Fink, the CEO of BlackRock, has similarly indicated Bitcoin might surge to $700,000 should institutional participation expand substantially, whereas Bitcoin skeptic Peter Schiff has consistently maintained that the cryptocurrency possesses no fundamental value and may eventually decline to worthlessness.
On Polymarket's "What price will Bitcoin hit in 2026?" prediction marketplace, participants are assigning the highest probability to outcomes ranging from $65,000 to $70,000, with the concentration of wagers centered around $68,000.