Bitcoin Will Surpass $200,000 Mark, Tim Draper Says
American billionaire Tim Draper believes that Bitcoin will soon surpass the $100,000 mark and reach $250,000 in value. He believes this will happen when women accept and use cryptocurrency in their daily lives.
Draper’s Bullish Stance On Bitcoin
The Venture Capitalist and Billionaire believes Bitcoin has a bright future and predicts it will surpass the $200,000 mark. Despite the intense crypto winter and market crisis surrounding the FTX crash, he remains bullish.
Draper predicted this pump would happen before the end of 2022. However, given the current state of the market and the supposed Bitcoin trading at $17,000, this appears to be impossible.
However, Draper continues to promote this notion, claiming that the price set for bitcoin is attainable once the market recovers and women begin to use cryptocurrency in their daily lives.
He believes that when it comes to shopping and trading, women control over 70% of the retail and marketing sectors and that their influence can push the market upward.
Draper also mentioned the increase in women’s crypto attitudes. He stated that they have grown interested in crypto, and this statement is supported by the increase in women crypto wallet ownership going from 7% to 17%.
More Factors That Would Pump Bitcoin
The billionaire also drew attention to other factors that could propel bitcoin to this price, which he predicted would occur when traders and merchants accept bitcoin.
When stores and trading organizations begin to accept Bitcoin as a standard form of payment, the cryptocurrency will gain traction and stability, and eventually, skyrocket in price.
He began by saying that when traders and retailers realize they can double their revenue and funds by accepting Bitcoin, it will be enough to drive the widespread adoption of this cryptocurrency as a means of payment.
After reaching an all-time high of $69,000 in November 2021, Bitcoin currently trades at $17,000. It has dropped more than 70% from this high, and a drop in market cap and trading volume has resulted from the crash in May to the one recently recorded after the FTX crash.
Despite its downtrend, a significant number of businesses have adopted it as a payment method to run their operations.
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