Venture capital investor Tim Draper reiterates his prediction that the price of Bitcoin (BTC) will increase significantly into the six-digit range in the coming months.
Draper says in a new interview that Bitcoin will hit $250,000 “by the end of this year or early next year.”
The venture capitalist, who has early bets on Coinbase, Hotmail, Skype, Tesla and Twitter, says the catalyst will be women increasingly using bitcoin to shop.
“One thing that might happen, and I don’t know exactly when, is that women will start using bitcoin. One in 14 Bitcoin owners was a woman. And now it’s about one in six. And I think it will eventually even out.
In fact, women will control about 80% of retail spending. And retailers haven’t realized they can save 2%. And they usually have very low margins, so they could double their profits. You can save 2% by simply accepting bitcoin instead of taking a bank-issued credit card.
And that can change everything. And suddenly all women have bitcoin wallets and they will buy things with bitcoin. And you will see a bitcoin price that will easily break my $250,000 estimate.”
“What I’ve noticed is that, in general, technology is first adopted by consumers and then migrated to businesses.
I think you’re going to see NFTs go from consumer to corporate where now your diploma and your driver’s license and your employment history and your medical records and all that stuff goes to an NFT. And that’s going to be kind of a new direction for NFTs.
DeFi will transition from the speculating consumer to the institution that moves money.”
Draper also highlighted his stance on decentralized autonomous organizations (DAOs). The crypto bull says DAOs can be used to more fairly reward the various stakeholders of successful businesses.
“A DAO can solve all these social problems. You could have a DAO that benefits the shareholders or the DAO owners, the customers who receive the token for purchasing the product, the suppliers for delivery to that company, and the employees that are part of that company. This benefits the community around which this company operates.
And you would lose all those envy politics that people are angry about [Amazon founder] Jeff Bezos for making so much money.”
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Source: Crypto News Deutsch