Prominent billionaire investor Tim Draper insists that women are starting to push higher as more retailers start offering bitcoin in stores as a more cost-effective payment method The age of bitcoin prices will come.
Draper, Bitcoin (bitcoin), the investor himself, told host Scott Melk on YouTube’s Wolf of All Streets show last week that women could be key promote The largest cryptocurrency by market cap, up to $250,000 per coin.
His reasoning is that, as shopkeepers begin to more widely accept BTC as a payment method, “all of a sudden, all women are going to have bitcoin wallets, and they’re going to use bitcoin to shop:”
“Then you will see that Bitcoin is just over $250,000 by my estimate.”
Draper believes that it is in the best interest of retailers to start accepting bitcoin sooner or later. He acknowledged that most shopkeepers have tight profit margins, so lower transaction fees could increase the incentive for BTC compared to partnering with major credit card companies Visa or Mastercard.
— Tim Draper (@TimDraper) May 28, 2022
Average credit card transactions cost merchants up to 2.9% per purchase in-store and up to 3.5% online, according to credit donkey. By comparison, the average BTC transaction fee is $1.4 per transaction, according to to the Bitcoin data compiler BitInfoCharts.
Draper hinted that the benefits for retailers are clear. He said that women “control about 80 percent of retail spending” and that retailers can save a lot on paying credit card companies by opting for bitcoin. Women make up 30% of all U.S. cryptocurrency owners, according to The State of Consumer Banking and Payments by research firm Morning Consult.
The level of adoption Draper hopes may not be far off, as Morning Consult found that about 24 percent of U.S. households own cryptocurrency, a 2 percent increase from July 2021.
If Draper is right, it could start a cascading event that would also validate Mastercard CEO Michael Miebach’s prediction that global payments system SWIFT Does not exist in five years. Mibach made a shocking prediction at the World Economic Forum in Davos last week.