![Stacks token surges 28% following Tim Draper's bullish Bitcoin comments](https://i-invdn-com.investing.com/news/moved_LYNXMPEHB508M_L.jpg)
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In a recent interview on CoinBureau, venture capitalist Tim Draper’s comments on the potential of bitcoin-based applications and his repeated prediction of Bitcoin reaching $250,000 by 2025 led to a significant increase in the price of Stacks (STX). The cryptocurrency jumped 28% after the interview, underscoring investor enthusiasm around Bitcoin’s expanding ecosystem.
Draper, known for his successful investments and bullish stance on cryptocurrencies, compared the growth trajectory of bitcoin-based applications to that of Microsoft in its development. He specifically highlighted the role of Stacks, a project enabling smart contracts on the Bitcoin network, which has seen significant growth since its SEC-qualified offering in 2019.
The impact of Draper’s statements was immediate on Stacks’ valuation. The STX token has reached $1.52, repeating its highest price from February 2022. This price movement reflects growing investor confidence in projects related to the Bitcoin network.
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