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.’
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.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Annie
CoinCu News
Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…
As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…
With the crypto market reaching new peaks, many are eager to discover digital currencies poised…
XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…
Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…
There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…
This website uses cookies.