According to billionaire investor Tim Draper, it will be women who will lead the next. Bitcoin bull market.
Billionaire Tim Draper, a renowned investor in digital assets and technology, has been talking with quite an enthusiasm about Bitcoin for a long time. Not only is he a holder of prominent cryptocurrencies and altcoins, but he has recently revealed the “secrets” to successfully putting money in BTC.
In a new interview, he highlighted that he believes the retail purchasing power of women, coupled with the reception of Bitcoin in retail stores, could boost the asset and send it to new highs above $250,000. He had already predicted this price before, only in 2021. He thinks he could reach it by the end of this year.
Forecast of USD 250,000 per BTC
Draper revealed to host Scott Melker on the YouTube show Wolf of All Streets that women could be a determining factor in boosting the largest cryptocurrency by market cap to $250,000 per coin.
They argue that as store owners start to receive BTC as payment with more enthusiasm, suddenly all women will have Bitcoin wallets and purchase goods with Bitcoin, then you will see a Bitcoin price that will surpássed the marked estimate of $250,000.
Draper believes that it is in retailers’ best interests to start receiving Bitcoin as soon as possible. He acknowledges that most store owners carry out their activities on low margins, so minimizing transaction fees compared to working with huge credit card entities Visa or Mastercard could increase BTC incentives.
The average credit card transaction costs merchants up to 2.9% in-store and 3.5% online per purchase, according to CreditDonkey. By comparison, the average BTC transaction fee is a flat $1.4 per transaction, according to Bitcoin data compiler BitInfoCharts.
Women in Power
Draper suggests that the benefit to retailers is obvious. He said women have control over 80% of retail spending.
Draper also added that including women should be a nice feature to get included in the crypto market. He expressed a 1:14 ratio of female Bitcoin holders to males, which got minimized to 1 female 6 for every six males. And there, he insists that the greater participation of women should make the process of adopting Bitcoin evolve to the next stage.
According to The State of Consumer Banking & Payments by research firm Morning Consult, other figures highlight that women currently make up 30% of all owners in the United States of America; according to The State of Consumer Banking & Payments by research firm Morning Consult.
The level of adoption Draper is waiting for may not be too far off, as Morning Consult found that around 24% of US households already have digital assets, marking a 2% increase from July 2021.
By: Jenson Nuñez
