Published May 30, 20221 min read

Tim Draper, a well-known venture capitalist, believes that women will lead the next Bitcoin bull market

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CoinMooner Team
artwork image for: Tim Draper: Women to drive the next Bitcoin bull market

Draper, himself a Bitcoin (BTC) investor, told presenter Scott Melker on the Wolf of All Streets YouTube programme last week that women might play a crucial role in bringing the biggest cryptocurrency by market size to $250,000 per coin.

Then you’re going to see a Bitcoin price that’ll just blow right through my $250,000 estimate.

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Draper feels it is in the best interest of merchants to begin taking Bitcoin as quickly as possible. He agrees that the majority of business owners operate with modest profit margins, thus the lower transaction costs in comparison to working with Visa or Mastercard might improve BTC's incentives.

As per various sources, the typical credit card transaction costs retailers up to 2.9% in-store and 3.5% online every purchase. According to the Bitcoin data generator BitInfoCharts, the average BTC transaction cost is a flat $1.4 per transaction.

Draper implies that the advantage to merchants is readily apparent. He said that women "control around 80% of retail purchasing" and that by accepting Bitcoin, merchants may save a great deal on fees paid to credit card firms. 30 percent of all cryptocurrency owners in the United States are female.

If Draper is correct, this might trigger a chain reaction that validates Mastercard CEO Michael Miebach's forecast that the global payments system SWIFT would cease to exist in five years. The statement was made by Miebach last week at the World Economic Forum in Davos.

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