Tim Draper denies moving Bitcoin, reaffirms $250k target
Billionaire investor Tim Draper denies moving his Bitcoin after blockchain analysts linked a wallet that transferred 1,000 BTC to Coinbase Prime. Draper told Cointelegraph he has not touched his holdings and still expects Bitcoin to reach $250,000 within one year, even as on-chain trackers spotlight large whale activity.
Key Takeaways
- Lookonchain reported a wallet possibly linked to Tim Draper transferred 1,000 Bitcoin, worth about $62 million, to Coinbase Prime.
- Draper said, "Haven't touched my BTC," and reiterated his $250,000 Bitcoin price target within one year.
- The wallet shows prior Coinbase Prime activity, but blockchain labels do not conclusively prove ownership.
- Bitcoin's realized profit and loss ratio hit a 43-month low as analysts debate whether the market bottom is near.
What Did Blockchain Analysts Report About Tim Draper?
The story started when blockchain analytics platform Lookonchain reported Thursday that a wallet "possibly linked" to Draper had transferred 1,000 Bitcoin to Coinbase Prime. The firm cited data from Arkham, a crypto intelligence provider.
At publishing time, that transfer was valued at roughly $62 million. The wallet's transaction history also shows several interactions with Coinbase Prime over the past year, including a 1,000 Bitcoin transfer from the exchange on July 9, 2025, when BTC traded near $115,880 per coin.
Draper is a longtime Bitcoin bull and venture capitalist. When large wallets tied to prominent holders move coins to institutional platforms, traders often read it as a potential prelude to selling. In this case, Draper pushed back on the connection.
Why Does Draper's $250,000 Bitcoin Target Matter Now?
"Haven't touched my BTC," Draper told Cointelegraph on Friday. He added that he still expects Bitcoin to reach $250,000 within one year.
That forecast is familiar. Draper has held the same $250,000 price target since at least 2018, initially expecting Bitcoin to reach it by late 2022 or early 2023. Bitcoin's highest recorded price to date is $126,080 on Oct. 6, 2025, according to CoinGecko. At publishing time, Bitcoin was trading around $62,530.
The denial matters because whale-sized transfers frequently drive headlines and price speculation. It also highlights a wider challenge in crypto: on-chain analytics can trace flows quickly, but attributing wallets to specific people often remains uncertain.
How Does the Broader Bitcoin Market Look?
The Draper headlines landed during a stretch of weak sentiment. Bitcoin's realized profit and loss ratio fell to a 43-month low of -0.35, blockchain analytics platform CryptoQuant said Thursday. The metric measures the net percentage of Bitcoin supply in profit or loss and has not been this depressed since December 2022, shortly after FTX collapsed.
CryptoQuant said the indicator has historically marked Bitcoin bottoms with strong precision. Bitwise chief investment officer Matt Hougan said the bottom is "closer than ever" and that a new bull market could arrive this fall. Swan Bitcoin analyst Adam Livingston argued investors should buy now at a discount rather than overpay later, noting that waiting for a confirmed bottom is often futile.
For more daily coverage, see our Fintech & Crypto Alerts section. Primary reporting is available via Cointelegraph.