Venture capital Tim Draper reiterates his prediction that the price of Bitcoin (BTC) will hit six figures in the next few months.
Draper says in a new interview that “by the end of this year or early next year” bitcoin will reach $250,000.
A venture capitalist who made early bets on Coinbase, Hotmail, Skype, Tesla and Twitter says the catalyst will be women increasingly using bitcoin to shop.
“One thing that will likely happen, and I don’t know when exactly, is that women will start using bitcoin. She was one of 14 female bitcoin holders. And now it’s something like one of six. I think it will turn out evenly.
And the way it would be equal is that women control about 80% of retail spending. And retailers didn’t realize that they could save 2%. They usually work with meager margins, which can double their profits. They can only save 2% by accepting Bitcoin instead of taking a credit card issued by the bank.
This can change everything. Suddenly all women will own bitcoin wallets and buy things with bitcoin. And you’ll see a bitcoin price that will explode by my $250,000 estimate.
The billionaire investor also anticipates that the non-fungible tokens (NFT) and decentralized finance (DeFi) sectors will be adopted at the corporate and institutional level.
“What I’ve noticed is that, in general, technologies are first adopted by consumers and then moved on to the enterprise.
I think you’ll start to see NFTs go from consumer to business as now your college degree, driver’s license, work history, medical records and all of that will go to the NFT. And it would be kind of a new trend for NFTs.
DeFi will transform from consumer speculation to money transfer institution. »
Draper also reiterated his position on decentralized autonomous organizations (DAOs). Crypto bull says DAOs can be used to reward the various stakeholders of successful companies more fairly.
DAO can solve all these social problems. You can have a DAO that benefits the shareholders or owners of the DAO, benefits the customers who get the token to purchase the product, benefits the sellers for providing them with this business, and benefits the employees for being a part of that business. So it benefits the community around which these businesses operate.
And you will lose all the policies of envy that people are angry with [Amazon founder] Jeff Bezos to make a lot of money.
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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should perform their due diligence before making high-risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and transactions are at your own risk and that any loss you may incur is your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, and The Daily Hodl is not an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.
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