Tim Draper, a venture capitalist, has increased his prediction that bitcoin will reach $250,000 by the end or early next year. He explained, however, why he believes the cryptocurrency’s price will rise beyond his prediction.
Tim Draper, a venture capitalist, has increased his $250K Bitcoin price prediction. Draper was recently asked by Scott Melker (aka the Wolf of All Streets) if he still believes that bitcoin will reach $250K in a interview. He responded:
Yes, at the end of this or early next year.
Draper explained that he believes that Bitcoin will go up in price, surpassing his prediction. He explained that “One thing that is likely to happen — and I don’t know when — is that women will begin using bitcoin.”
Venture capitalist, John McKinney, noted that only one in fourteen bitcoin holders was female previously. He said, “Now it’s about one in six and I believe it will eventually become even.”
Blockfi, a crypto financial services company, conducted a March survey and found that almost three out of three American women plan to buy cryptocurrencies by 2022. Sixty-five percent of those surveyed indicated they plan to do so within the next three months.
Draper said: “Women control around 80% of retail spending, and retailers haven’t yet realized that they could save 2%. And they often run on very small margins so that it might be like twice their profits. Accepting bitcoin in place of a bank-issued card can help them save 2%. This can make all the difference.
It happened all at once. All women will have bitcoin wallets, and they will be purchasing things with bitcoin. You will see a bitcoin value that is just below my $250,000 estimate.
Draper stated on May 19 that despite current economic conditions, he was still a bullish investor in bitcoin. He explained: “As the speculation leaves, eventually it will diverge with the tech stocks.”