The price of bitcoin would have to rise by 762% for Draper’s prediction to be accurate
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- A pie-in-the-sky prediction
- new cryptocurrency trends
US investor Tim Draper remains confident that the price of bitcoin will eventually reach $250,000.
During a recent interview with noted cryptocurrency trader Scott Melker, he predicted that more women would start using bitcoin. This will significantly expand the user base of the cryptocurrency.
“All of a sudden, all women will have bitcoin wallets, and they will buy things with bitcoin,” Draper predicted.
Given that about 51% of wealth in the US is controlled by women, it is not far-fetched to speculate that they could drive the price of bitcoin significantly higher.
According to well-known venture capitalists, even retailers haven’t realized yet that they can save 2% by accepting bitcoin instead of bank-issued credit cards. Draper said this could potentially double their profits because they run on very low margins.
A pie-in-the-sky prediction
As reported by U.Today, the venture capitalist has repeatedly predicted that the price of bitcoin will reach $250,000 by early 2023.
Back in 2020, Draper, who was an early investor in Skype and Hotmail, said he would make bitcoin the official currency in the US if elected president.
In 2014, Draper bought 30,000 bitcoins at an auction organized by the US Marshals Service. At the time, he accurately predicted that bitcoin would reach $10,000 by 2018.
However, given that the leading cryptocurrency is currently trading at just $29,025, it is highly likely that its forecast of $250,000 will fail miserably less than a year from now.new cryptocurrency trends
Speaking of the next big thing in crypto, Draper predicted that non-fungible tokens would move from consumer to enterprise.
“Now, your diploma and your driver’s license, and your employment history, and your medical records, and all that stuff will go into NFT, and that will be a new direction for NFT.”
Decentralized finance, now seen only as a tool for speculation, will also see increased institutional adoption.