Well-known venture capitalist and billionaire Tim Draper recently in a interview met with Bloomberg explained what he thinks could cause the stock price to bitcoins (BTC) will soar to an astronomical high of $250,000, which would be a whopping 1,400%.
Bitcoin at $250,000
The King’s Course cryptocurrencies according to Draper, it will really take off like a rocket when you can start using cryptocurrencies to pay for everyday goods. As soon as you can pay for your food, clothing, and lodgings with BTC, it’s not surprising, according to Draper, to expect the price of BTC nice things to show.
This also has to do with the fact that it is mainly women who spend money in shops. Draper says women are responsible for up to 80% of all retail spending. The moment this group of women starts to see the benefits of paying with bitcoin is the most important catalyst for a huge bitcoin surge for Tim Draper.
Women and bitcoins
“The reason it will be $250,000 and probably higher is that you can buy your food, your clothes and your housing all in Bitcoin. And here are the stats I know: Women control 80% of retail spending. And that’s usually food and clothing and shelter. And when women realize they can get a discount by paying with Bitcoin, when retailers realize they can double their profits by accepting Bitcoin, things will move pretty quickly.”
Of course, it remains to be seen whether bitcoin will actually be used on a large scale as a means of payment in daily life. For example, there is the so-called Lightning Network on top of the Bitcoin network. This is a layer-2 scale solution that makes transactions much easier. Using this Lightning network has shown substantial growth in recent years.
