Bitcoin can hit $250,000, Tim Draper thinks

Tim Draper, co-founder of venture capital company Draper Fisher Jurvetson, said that the price of the first cryptocurrency can rise above the mark of $250,000. A well-known investor believes that this is happening if women around the world begin to pay for purchases at bitcoins.

Draper believes that in order to save money, it is the women who will open BTC wallets and pay for clothes, cosmetics, groceries, household chemicals, etc. with digital currency. In his opinion, women control about 80% of family expenses, so retailers will only benefit from the meeting of the meeting.

The entrepreneur is confident that stores are interested in introducing BTC as early as possible. Even low-margin retail outlets will benefit, as the costs of transactions using digital currencies will be less than the commission that large payment systems like Visa or Mastercard usually charge.

According to CreditDonkey, the average charge for a credit card purchase is about 2.9% offline and 3.5% online. However, cryptocurrency experts claim that the average commission for a transaction with bitcoin is even higher — about $9.

This confirms the opinion of Sam Bankman-Fried, CEO of the FTX crypto exchange, that it is quite expensive to make daily BTC payments. Also, Galaxy Digital CEO Michael Novogratz is convinced that the blockchain of the main crypto coin is not fast enough to process millions of transactions.

However, there are those who agree with the opinion of Tim Draper, considering bitcoin to be the most effective payment system. The CEO of Strike, Jack Mullers, is confident that BTC can become more popular than the usual payment services.

According to the entrepreneur, the use of bitcoin “as a payment network is superior to banking systems or money transfer services such as Western Union.” Mullers also believes that with the help of BTC, anyone can be able to move their funds “free of charge anywhere in the world, in real time.”

What do you think about it?

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store