Draper famously bought nearly 30,000 bitcoins at a government auction back in 2014 and has a mixed track record of crypto predictions (he called bitcoin's rise to $10,000 by 2017).
He believes inflation is pushing more people toward bitcoin, saying, "I have reason to believe that Bitcoin will reach $250k in 18 months... and eventually I expect the number to be higher as Bitcoin rises and the dollar falls to inflationary pressures,"
As of today, bitcoin is trading around $74,000—a big jump would be needed for his forecast to come true.
Other crypto leaders are also watching this milestone closely.