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.
Read Also: El Salvador To Buy 1 Bitcoin (BTC) Per Day Starting From November 18
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.”
Read Also: Elon Musk Confident About Bitcoin’s (BTC) Future But Predicts a Long Bear Market
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.
Follow us on Twitter, Facebook, Telegram, and Google News
The Securities and Exchange Commission (SEC) of Nigeria, under the leadership of Acting Director-General Dr.…
The price of XRP witnessed a mild surge in recent hours. According to data from…
Savvy investors usually avoid top altcoins or popular cryptocurrencies for a reason: limited upside potential.…
Shiba Inu (SHIB), a popular meme coin, has captured the attention of cryptocurrency enthusiasts. The…
Investors know how to recognize a profitable investment when they see it. As anticipation builds…
To enhance user experience and streamline its offerings, Binance, the largest cryptocurrency exchange, has announced…