Billionaire venture capitalist Tim Draper believes that Bitcoin’s (CRYPTO: BTC) price will “blow past” $250,000 as women become more dominant in retail cryptocurrency spending.
What Happened: In a recent interview with cryptocurrency trader Scott Melker, Draper said he thinks Bitcoin could hit $250,000 by the end of this year or early next year.
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Draper said that once Bitcoin payment processors like OpenNode “permeate the system” he expects the floodgates to open.
“One thing that will possibly likely happen, and I don’t know exactly when is that women will start using Bitcoin."
The investor pointed out that the number of female Bitcoin holders has jumped from one in 14 women to one in six women. He expects that the number of women and men holding Bitcoin will eventually be even.
“The way that it’s going to be even is women control about 80% of retail spending,” said Draper, adding that retailers could save 2% on their margins by accepting Bitcoin instead of a bank-issued credit card.
“That can change everything. All of a sudden, all the women will have Bitcoin wallets and they will be buying things with Bitcoin and you’re gonna see a Bitcoin price that’ll just blow right through my $250,000 estimate."
See Also: HOW TO BUY BITCOIN (BTC)
Price Action: According to data from Benzinga Pro, BTC was trading at $31,606, up 4.87% in the last 24 hours.
Photo by Diarmuid Greene/Web Summit via Sportsfile on Wikimedia
