Women power will bring the next Bitcoin bull run: Tim Draper

Tim Draper, a well-known crypto and tech investor, believes that women’s spending power, along with Bitcoin adoption at merchant establishments, may push the currency to new highs exceeding $250,000.

The price of Bitcoin, according to Tim Draper, a well-known billionaire investor, will grow as more retailers adopt Bitcoin as a more cost-effective payment option.

Women’s power in the crypto industry

Draper, a Bitcoin (BTC) investor, told Wolf of All Streets YouTube host Scott Melker last week that women may be essential in getting the world’s largest cryptocurrency reaching $250,000 per coin. 

“Then you’re going to see a Bitcoin price well beyond my prediction of $250,000.”

Draper believes that it is in the best interests of retailers to embrace Bitcoin sooner rather than later.

He understands that most company owners work on razor-thin profit margins, thus BTC’s incentives may be enhanced by the lower transaction costs compared to Visa or Mastercard. 

According to CreditDonkey, the average credit card transaction costs retailers 2.9 percent in-store and 3.5 percent online. 

According to BitInfoCharts, a Bitcoin data-gathering site, the average BTC transaction cost is $1.4 per transaction.

According to Draper, the benefit to businesses is obvious.

He argues that women “control roughly 80% of retail purchases,” and that utilizing Bitcoin instead of credit cards may save companies a lot of money.

Women account for 30% of all cryptocurrency owners in the United States, according to Morning Consult’s study The State of Consumer Banking & Payments.

For decades, the financial services sector has been plagued by gender discrepancies, but cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin have been pushed as a method to democratize historically new and more varied investors into a previously closed-off area Only approximately one out of every ten persons in the United States (11%) invests in cryptocurrencies, However, the sector has failed to establish momentum with women, a crucial demographic.

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Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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