Venture capitalist Tim Draper doubled down on his Bitcoin price prediction of $250,000 by the end of this year or early next year. But he explained why he expects the cryptocurrency’s price to soar beyond his estimate.
Tim Draper’s Bitcoin Price Prediction
Venture capitalist Tim Draper doubled down on his $250,000 Bitcoin price prediction. In a recent interview with Scott Melker, aka Wolf of All Streets, Draper was asked if he still believes the bitcoin price will reach $250,000 this year. He replied.
Yeah, by the end of this year or early next year.
Draper further explained why he believes the price ofwill exceed his prediction; he further explained why he believes the price of BTCwill exceed his prediction.” One thing that will probably happen – and I don’t know exactly when – is that women will start using Bitcoin,” he explained.
The venture capitalist noted that previously, only 1 in 14 bitcoin holders were women.” He stated, “Now it’s more like one in six, and I think it will eventually even out.
A March survey by crypto-financial services firm Blockfi found that nearly one in three American women said they planned to buy cryptocurrency in 2022. Additionally, one-third of them, 60%, indicated that they intend to do so in the next three months.
Draper explains. “Women control about 80% of retail spending, and retailers don’t realize they can still save 2%, and since they usually operate on very thin margins, that may be something like double their profit. Just accepting bitcoin instead of a bank-issued credit card can save 2%. And that can change everything.
Suddenly. Every woman will have a bitcoin wallet and buy things with bitcoins, and we will see bitcoin prices that will just pass my $250,000 estimate.
On May 19, Draper told CNBC that despite the current economic situation, “I’m still bullish on bitcoin, because it’s a great hedge against inflation.” He elaborated.” If speculators leave, it will eventually diverge from tech stocks.”
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