Draper has called on the SEC to embrace digital innovation, warning that without a supportive regulatory environment, innovation may shift overseas.

He blames the U.S. SEC for stifling the growth of the crypto sector with outdated regulations, which he believes has hindered his $250,000 prediction.

Draper attributes the failure to reach his price target to fear, uncertainty, and doubt propagated by regulatory bodies.

The upcoming U.S. elections in November are expected to significantly influence Bitcoin's price, with candidates from both parties showing interest in regulating the crypto sector.

Analysts are divided on the election's impact on Bitcoin, with some predicting declines under certain candidates while others expect growth regardless of the outcomes.

Draper also criticized SEC Chair Gary Gensler, suggesting that his mismanagement of the crypto sector could cost him his job.

In a related move, Crypto.com has filed a lawsuit against the SEC to protect the future of the cryptocurrency industry.

Ultimately, Draper believes that government recognition of Bitcoin's potential will lead to a significant price surge, potentially surpassing his original prediction.

Tim Draper, the American billionaire investor, initially predicted in 2018 that Bitcoin would reach $250,000 within four years, following his successful forecast of Bitcoin hitting $10,000 by 2017.

Draper's original prediction of Bitcoin reaching $10,000 was made in 2014 when the cryptocurrency was valued at just $180.

Despite the challenges, Draper remains optimistic about Bitcoin's future, sharing his insights and predictions during an interview.

Bitcoin has seen a notable surge in early 2023, driven by ETF buying and potential Federal Reserve rate cuts, raising questions about its future trajectory.