Tim Draper, the billionaire founder of Draper University, has recently reiterated his bullish stance on the future of Bitcoin (BTC). He also explained why he remains resolute that BTC will surpass $250,000 someday.
In a new interview with Bloomberg, Draper spoke about what he thinks would make the flagship cryptocurrency see a meteoric price ascent to $250,000.
According to the venture capitalist, at a point in the future, Bitcoin (BTC) will become a prominent asset to facilitate the payment of goods and services.
Draper explained further that women, who control 80% of retail spending are increasingly getting involved in crypto. He said there was a time when 1 in 14 wallets belonged to women, but it’s now 1 in 6 wallets, which proves the improvement in the growth of women in the crypto industry.
Tim Draper noted:
“The reason it gets to $250,000 and probably beyond is that it will take a moment when you can buy your food, your clothing and your shelter all in Bitcoin.
“And here are the statistics that I know: women control 80% of retail spending. And that’s usually the food, the clothing and the shelter. And women only have, way back it was like one in 14 Bitcoin wallets, and now it’s one in six.
“And when women realize that they can get a discount by paying in Bitcoin, when retailers realize they can double their profits by accepting Bitcoin, it’s going to move pretty quickly.”
At the time of filing this report, BTC is trading at $16,626, with a relatively 1% price downtrend in the last 24 hours, according to CoinMarketCap.