Tim Draper Denies 1,000 BTC Move to Coinbase Prime

Billionaire investor rejects blockchain analysts’ attribution while maintaining $250,000 price target

Tim Draper has denied transferring 1,000 Bitcoin to Coinbase Prime after blockchain analytics platforms linked him to the transaction, according to a statement to Cointelegraph on Friday. “Haven’t touched my BTC,” Draper said.

Lookonchain reported Thursday that a wallet “possibly linked” to Draper moved 1,000 BTC from Coinbase Prime, citing data from Arkham. The transfer occurred on July 9, 2025, when Bitcoin traded around $115,880, valuing the moved coins at approximately $62 million. Arkham labels the wallet as “Tim Draper?” indicating tentative attribution, though the platform has not publicly explained the basis for the classification.

The wallet’s transaction history shows several interactions with Coinbase Prime over the past year. Arkham did not respond to Cointelegraph’s request for comment on its methodology or whether additional Draper-linked wallets exist.

Draper acquired his Bitcoin holdings through the 2014 US Marshals Service auction of Silk Road seizures, winning nearly 30,000 BTC for $18.7 million, or $632 per coin. Those holdings are now valued at approximately $1.9 billion based on current Bitcoin prices near $62,530.

Despite the transfer denial, Draper has reiterated his long-standing $250,000 Bitcoin price target within one year. The forecast has been held since at least 2018, originally expecting Bitcoin to reach that level by late 2022 or early 2023. Bitcoin’s highest recorded price to date is $126,080, reached on October 6, 2025.

Draper’s prediction contrasts sharply with near-term market expectations. Polymarket traders price the most likely Bitcoin outcome for 2026 around $65,000 to $70,000, with price clustering near $68,000. Other prominent Bitcoin advocates offer divergent forecasts. Adam Back, CEO of Blockstream, expects Bitcoin could eventually reach between $500,000 and $1 million, describing the timeline as “closer than people think.” Larry Fink, CEO of BlackRock, has suggested Bitcoin could climb as high as $700,000 if institutional adoption increases significantly.

Bitcoin critics remain skeptical of bull-case projections. Peter Schiff has argued Bitcoin lacks intrinsic value and could fall to zero.

The denial comes as blockchain analytics platforms face ongoing scrutiny over wallet attribution accuracy. Arkham’s “Tim Draper?” label signals uncertainty, yet the tentative classification was sufficient for Lookonchain to report the transfer as potentially linked to the billionaire investor. The lack of transparency around classification methodology leaves open questions about how many wallets Arkham associates with Draper and what evidence supports those connections.