Anyone can see that Bitcoin has been suffering a less-than-exemplary few weeks, no one can argue with that. However, a well known American venture capitalist, Tim Draper, believes that this is the proverbial calm before the storm. He sees it as a simple accumulation period for investors, for all forms of crypto. Draper holds the opinion that a floodgate event will happen, causing a massive surge and adoption of cryptocurrencies.
Draper: 2.5% to 4% of Credit Funds “Just Goes Away”
Draper did this forecast on an interview he did with BlockTV. Draper speculated that society as a whole would gain the choice of making use of a credit card and losing 2.5% to 4% in transaction fees per swipe, or making use of frictionless Bitcoin. He theorized that this event would happen within the next two years.
Draper expressly showed his displeasure over the fact that banks charge this 2.5% to 4% fee for every card swipe, stating that he was angry about the fact. In his words, he believes the money “just goes away,” with him finding that he could do a lot with that amount of money. Draper is also of the opinion that many others feel the same way when it comes to the fees.
Potential $250K BTC Price Come 2022
Draper, who founded Draper University as well as Draper Fisher Jurvetson, pushed the idea that more engineers need to do more work. This is to allow people to continue to feel convenient and secure when they use credit for transactions.
Draper explained that, should the technical analysis that was done on Bitcoin be correctly deciphered, that Bitcoin will go past the $250 000 marks within the first year of halving. The most optimistic estimate shows the price reaching that in as little as six months.
As such, Draper considers this to be an excellent opportunity for investors to buy Bitcoin, with technical analysis indicating that the price should clock in at the $7 500 range at that time.
Draper: Women Are the Key
The billionaire took the extra time to stress the high chances of Bitcoin rallying up to as much as $250 000 at 2022’s end or the start of 2023. He showed his abundant desires for the mainstream to adopt cryptocurrencies, citing how people were selling Bitcoin as a way to get money for Christmas gifts. He put even further stress on the fact that he was frustrated with the 2.5% to 4% fees he gets charged by the bank.
Draper believes the proverbial floodgates are soon to be opened with cryptocurrencies. To justify this, he claimed that from 75% to 80% of the world’s retail and shopping business, is done by women. Compared to Bitcoin’s numbers, Draper argues that only 1 in every 15 Bitcoin wallet holders are female.
With this logic, Draper theorizes that the women of the world will grow tired of wasting 2.5% to 4% of their funding for every card swipe. He believes that the women of the world will start to look for a cost-free solution. With this, Draper theorizes that the “floodgate” will open once women start hopping on Bitcoin. For his part, here’s hoping.