According to Tim Draper, women will drive the next Bitcoin bull market. Famed crypto and tech investor believes the retail purchasing power of women, paired with Bitcoin acceptance at merchant stores, could send BTC to new highs above $250K.
Draper is pretty sure that as soon as retailers start massively offering Bitcoin as a payment option, women will become the main driving force for it.
He thinks women could be key in pushing the largest crypto by market cap as high as to $250,000 per Bitcoin.
Women will be driving force for Bitcoin
According to Draper, who is a renowned Bitcoin investor himself, the future is more or less around the corner.
Billionaire thinks that as store owners begin to accept BTC as payment more widely women will enter the game.
“All of a sudden, all the women will have Bitcoin wallets and they will be buying things with Bitcoin,” Draper thinks.
He believes it is in retailers’ best interest to begin accepting Bitcoin sooner than later.
He acknowledges that most store owners operate on low margins. Bitcoin is able to provide a much lower transaction fees compared to working with major credit card companies Visa or Mastercard.
That could lead to a wide adoption of Bitcoin as payment method for retail.
“Then you’re going to see a Bitcoin price that’ll just blow right through my $250,000 estimate,” he concludes.
Could Bitcoin be beneficial for retailers? And for women?
As Cointelegraph article shows, the average credit card transaction costs merchants up to 2.9% in-store and 3.5% online per purchase. By comparison, the average BTC transaction fee comes in at a flat $1.4 per transaction. But of course, the fee could be even smaller if Lightning Network is used.
So the benefit to retailers is obvious. They will be able to save a lot by choosing Bitcoin as a payment method.
And women will be there too, Draper thinks.
According to him, women control about 80% of retail spending. Also women constitute 30% of all crypto owners in the United States.
This figure will rise as soon as retailers start accepting Bitcoin everywhere.