Tim Draper: Women Will Drive The Next Bitcoin Bull Market
Tim Draper, a renowned billionaire investor insists that a time will come when women begin driving up the price of Bitcoin as more retailers start offering it as a more cost-effective payment option at shops.
iexclusivenews reports that Draper, a Bitcoin (BTC) investor himself, told host Scott Melker on the Wolf of All Streets YouTube show last week that women could be key in pushing the largest crypto by market cap up to $250,000 per coin.
This online news outlet understands that Tim Draper reasons that as store owners begin to accept BTC as payment more widely, “all of a sudden, all the women will have Bitcoin wallets and they will be buying things with Bitcoin:”
“Then you’re going to see a Bitcoin price that’ll just blow right through my $250,000 estimate.”
Draper believes that embracing Bitcoin sooner rather than later is in the best interests of shops. He recognizes that most business owners operate on slim profit margins. So the lower transaction costs compared to dealing with Visa or Mastercard might improve BTC’s incentives.
According to CreditDonkey, the average credit card transaction costs retailers 2.9 percent in-store and 3.5 percent online. According to Bitcoin statistics compilation site BitInfoCharts, the average BTC transaction cost is a flat $1.4 per transaction.
The benefit to merchants, according to Draper, is evident. He claims that women “control around 80% of retail purchasing,” and that merchants may save a lot of money by using Bitcoin instead of credit cards.
According to Morning Consult’s report The State of Consumer Banking & Payments, women account for 30% of all cryptocurrency owners in the United States.
Morning Consult estimates that around 24% of American households possess cryptocurrency, up 2% from July 2021.
Meanwhile, iexclusivenews Nigeria reports that if Draper is correct, it may set off a chain reaction. Confirming Mastercard CEO Michael Miebach’s prediction that SWIFT, the worldwide payments system, will cease to exist in five years. Last week, Miebach made the startling forecast at the World Economic Forum in Davos.
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