Svmuu News Bitcoin Early investor and billionaire Tim Draper has denied recent on-chain rumors regarding the transfer of a large amount of Bitcoin, stating that he “has not moved any BTC assets.”
Previously, blockchain analytics platform Lookonchain, citing data from Arkham, reported that a “wallet potentially linked to Draper” had transferred approximately 1,000 BTC—worth about $62 million—to Coinbase Prime, sparking market attention.The Arkham platform had labeled the relevant address as “Tim Draper?” and noted that the wallet had a long history of interactions with Coinbase Prime; however, this label was based on AI speculation with limited confidence, and the true ownership could not yet be confirmed.
Tim Draper stated that the claims were 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 at an auction in 2014 for approximately $18.7 million, at an average price of about $632 per coin; these holdings are now worth approximately $1.9 billion, making him one of the earliest well-known institutional investors in Bitcoin.
Meanwhile, Draper has repeatedly reaffirmed his $250,000 price target since 2018, but the timeline has been consistently pushed back, while Bitcoin’s recent high was approximately $126,080 (October 2025).The market remains clearly divided on the direction of the price going forward. (Cointelegraph)