Tim Draper, a well-known cryptocurrency and tech capitalist, feels that women’s discretionary income, along with Bitcoin adoption at enabled suppliers, could propel the currency to unimaginable heights exceeding $250,000.
Tim Draper, a well-known multi-billionaire, believes that as more stores finally accept Bitcoin as a much more expensive means of payment, the value of Bitcoin will rise.
Last week, Draper, a Bitcoin (BTC) trader, told presenter Scott Melker on the Wolf of All Streets YouTube show that women might be crucial in bringing the biggest cryptocurrency by market valuation up to $250,000 per coin.
He believes that when more businesses adopt payments in bitcoin, “but then all of a sudden, all the women will have Bitcoin wallets and will be making purchases with Bitcoin:”
“Then you’re expecting to see a price of bitcoin that blows far past my forecast of $250,000.”
Draper contends that embracing Bitcoin relatively soon is in the best interests of shops.
He recognizes that most business owners compete on slim profitability, so the lower trading fees compared to dealing with Visa or Mastercard could improve BTC’s advantages.
As per CreditDonkey, the typical card payment charges businesses 2.9 percent inside and 3.5 percent online. As per Bitcoin statistics compilation site BitInfoCharts, the median BTC trading fee is a flat $1.4 per trade.
The advantage to merchants, according to Draper, is evident. He claims that women “manage around 80% of retail purchases” and that merchants may save a lot of money by using Bitcoin instead of credit cards. As per Morning Consult’s report, The State of Consumer Banking & Payments, women account for 30% of all cryptocurrency holders in the United States.
Morning Research estimates that around 24% of American consumers possess cryptocurrency, up 2% from July 2021.
If Draper is correct, it may set off a chain reaction, confirming Mastercard CEO Michael Miebach’s forecast that SWIFT, the worldwide payment service, would eventually disappear in 5 years. Weeks ago, Miebach issued the startling forecast at the World Economic Forum in Davos.
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