Women Will Play A Critical Role In Bitcoin’s Next Bull Market, According To Tim Draper
Venture capitalist Tim Draper is convinced that women will begin driving up the price of Bitcoin (BTC) as more retailers start offering the flagship cryptocurrency as a payment option.
Appearing in a podcast show with Scott Melker on the Wolf of All Streets YouTube show last week, Draper opined that women could play a key role in pushing the largest crypto by market cap up to $250,000 per coin.
He 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 BTC,’ adding ‘and you’re going to see a Bitcoin price that’ll just blow right through my $250,000 estimate.’
Women ‘control about 80% of retail spending’ and retailers can save a lot on fees paid to credit card companies by choosing Bitcoin
Draper believes it is in retailers’ best interest to begin accepting BTC sooner than later. He acknowledges that most store owners operate on low margins so the reduced transaction fees compared to working with major credit card companies Visa or Mastercard could increase BTC’s incentives.
“And the way it’s going to be even is women control about 80% of retail spending. And retailers haven’t yet realized that they can save 2%. And they usually run on very thin margins so that might like double their profits. They can save 2% just by accepting Bitcoin instead of taking a bank-issued credit card,” he explained.
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