Billionaire Tim Draper Denies Moving Bitcoin, Reaffirms $250,000 Forecast

Tim Draper is a prominent early Bitcoin investor who acquired nearly 30,000 BTC linked to the Silk Road case for about $18.7 million at a 2014 U.S. Marshals Service auction. The dispute underscores that while blockchain transactions are public, wallet-ownership labels from analytics platforms such as Arkham may be based only on low-confidence assumptions and cannot be treated as proof of activity by the purported owner.

On July 3, 2026, Lookonchain cited Arkham data in reporting that a wallet believed to belong to Draper had transferred 1,000 BTC, worth about $62 million, to Coinbase Prime. Draper promptly denied moving any of his holdings and reiterated that Bitcoin would rise to $250,000 within a year. Bitcoin was trading at about $62,530 when the report was published.