Tim Draper, a renowned Venture Capitalist (VC), has reiterated his prediction regarding the bitcoin price. He said earlier that the price of bitcoin will hit the mark of $250,000 by the end of this year or early next year. Many people thought he would take back his statement as the crypto market is plunging. However, Draper has doubled down on his prediction and has explained why he thinks the price may also exceed his expectations.
Draper shared his stance regarding the crypto industry in an interview with Scott Melker, also known as the ‘Wolf of All Streets.’ When Melker asked him about his belief in the prediction he made about bitcoin that it would reach the value of $250,000, Draper replied, “ Yeah, by the end of this year or early next year.”
Draper further explained in favor of his prediction and stated that women will start using bitcoin more than ever without giving any precise date. Consequently, he believes that the price of bitcoin will surpass his prediction.
Draper expounded that presently women have significantly less proportion of investments in the crypto market. Out of 14 bitcoin holders, only one is a woman, but the Venture Capitalist believes in the near future, the proportion will increase. He says that soon, out of 6 bitcoin holders, one will surely be a woman.
Blockfi, a crypto-financial services company, surveyed people around the United States of America in March this year. Almost 33% of all women express their desire to invest in cryptocurrencies in 2022. Moreover, out of this 33% of women, 60% indicated that they are likely to buy cryptocurrencies within 3 months.
Moreover, Draper explained that women influence 80% of retail spending. Retailers fail to understand that instead of accepting transactions through a bank-issued credit card, they can do so in bitcoins. As a result, the retailers will save 2% on each transaction.
Moreover, the crypto market is here to stay, and the industry will impact the entire world. Soon enough, Draper added that all the women would have digital wallets and buy things with bitcoin.
Such a massive influx, primarily of women, into the crypto market and the investments in bitcoins, will result in a surge in bitcoin price. Ultimately, bitcoin will even surpass the $250K mark.