Women’s Purchasing Power Will Push BTC Price To New Highs – Famous Crypto Investor
Famous tech investor and crypto advocate, Tim Draper, reiterates that there will soon be a time when women’s purchasing power will be the leading cause of BTC’s price rise. However, he stated that this would only happen with more BTC adoption by merchants.
He also said that many of these merchants need more awareness about the cost-effectiveness of using BTC to complete purchases for their goods and services.
Women Make More Retail Purchases Than Men Globally – Draper
Draper made his opinions known during a recent interview with Scott Melker. Melker hosts the popular YouTube show, The Wolf Of All Streets. The billionaire crypto bull said the influence of women’s purchasing power would be an important factor that will push BTC’s price up to $250K.
“Once more merchants start accepting BTC for payments of their goods and services, there will be a huge spike in the number of women with BTC wallets. More importantly, they will be making huge purchases in stores that accept BTC.”
“Hence, you will likely see that BTC’s price will shoot towards the $250k mark, which is my prediction,” Draper added. Merchants should start supporting BTC payments now. Hence, they can make more profits off the trend when it happens.
Greater Benefits For Merchants
He also said the transaction fees these merchants will save when they support BTC payments would increase profit per sale. “most of them operate on tiny margins. A BTC alternative to credit card payment processing will save them transaction fees. Thus, they make more profits.”
Creditdonkey data shows that merchants incur nearly 2.9% transaction charges for in-store credit card purchases. They also incur about 3.5% fees for online credit card purchases. However, Bitinfocharts data indicates that it would only cost $1.4 for purchases made with BTC.
Draper hints that women control more than 83% of retail purchases globally. This means huge benefits for retailers who choose BTC. Data from Morning Consult research firm states that 30% of crypto holders in the US are women.
Based on a recent study, Draper’s hopes of a greater BTC adoption may happen soon. The Morning Consult data suggests a 2% increase in the number of us households with crypto holdings.
The data stated that there are now 24% of us households with crypto holdings compared to 22% last year. If Draper’s prediction comes true, it will lead to a cycle of events with some payments system ceasing to exist.
Mastercard chief executive, Michael Miebach, predicts that SWIFT (a popular global payment system) will cease to exist within the next five years. He said his prediction is based on a wider BTC adoption that would have occurred between now and 2027.
Miebach shared his sensational claim at the recently concluded world economic forum. Will Draper and Miebach’s predictions come to reality? The next five years will tell.
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