Fun

Venture Capitalist Tim Draper Explains Why Bitcoin Will Soar Past His $250K Estimate

News Feed - 2022-06-03 09:06:26

Venture Capitalist Tim Draper Explains Why Bitcoin Will Soar Past His $250K Estimate


Venture capitalist Tim Draper has doubled down on his bitcoin price prediction of $250,000 by the end of this year or early next year. However, he explained why he expects the price of the cryptocurrency to soar past his estimate. Tim Draper’s Bitcoin Price Prediction


Venture capitalist Tim Draper has doubled down on his $250K bitcoin price prediction. In a recent interview with Scott Melker, aka the Wolf of All Streets, Draper was asked if he still believes the price of bitcoin would reach $250K this year. He replied: Yeah, by the end of this year or early next year.


Draper further explained why he believes the price of BTC will surpass his prediction. “One thing that will possibly likely happen — and I don’t know exactly when — is that the women will start using bitcoin,” he described.


The venture capitalist noted that previously only one in 14 bitcoin holders were women. “Now, it’s something like one in six and I think it will eventually be even,” he said.


A survey in March by crypto financial services company Blockfi found that nearly one in three American women said they plan to purchase cryptocurrencies in 2022. Furthermore, 60% of that third indicated that they intend to do so in the next three months.


Draper explained: “Women control about 80% of retail spending and retailers haven’t yet realized that they can save 2%, and they usually run on very thin margins so that might be like double their profits. They can save 2% just by accepting bitcoin instead of taking a bank-issued credit card. And that can change everything.”


Draper opined: All of a sudden. All the women will have bitcoin wallets and they will be buying things with bitcoin and you are going to see a bitcoin price that will just go right through my $250,000 estimate.


On May 19, Draper told CNBC that despite the current economic condition, “I’m still a bull on bitcoin because it’s a great hedge against inflation.” He elaborated: “As the speculators leave, eventually it will diverge from the tech stocks.” Tags in this story bitcoin price prediction, cryptocurrency price prediction, tim draper bitcoin, Tim Draper Bitcoin prediction, tim draper crypto, tim draper cryptocurrency


What do you think about Tim Draper’s comments? Let us know in the comments section below. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Fresh Gains Push Bitcoin Back Into the World"s Top 10 Most Valuable Assets MARKETS AND PRICES | 3 days ago Bored Ape and Cryptopunk Values Wobble — During the Last Month, Blue-Chip NFT Floor Values Dropped Over 50% MARKETS AND PRICES | 6 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleUS Arrests Former Employee of Opensea NFT Marketplace in ‘First-Ever Digital Asset Insider Trading Scheme’ Next articleNY Attorney General Warns About Investing in Crypto Market — Says It’s Extremely Unpredictable, Unstable Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItTony Hawk"s Latest NFTs to Come With Signed Physical Skateboards


Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.Today"s Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits Interest in Real Estate Investments in Spain Grew 400%, With Some Using Crypto and Stocks as Payment Method Survey: Adoption in Argentina Grows, With 12 out of 100 Adults Having Invested in Crypto Ethereum Foundation"s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether

News Feed

CFTC Commissioner Opposes Regulation by Enforcement, Says Crypto Needs Clearer Rules
CFTC Commissioner Opposes Regulation by Enforcement, Says Crypto Needs Clearer Rules A commissioner with the Commodity Futures Trading Commission (CFTC), Dawn Stump, has voiced con
Martin Young5 hours agoFormer Andreessen Horowitz execs launch Bastion after $25M funding roundThe Web3 startup came out of stealth mode after a seed funding round led by a16z crypto, enabling firms to integrate web3 inf
Family of Popular NFT Projects Launch Collaborative Initiative and Genesis Collection
Family of Popular NFT Projects Launch Collaborative Initiative and Genesis Collection On Tuesday, a new Draper Goren Holm incubated company called NFT.FAMILY has announced the laun
Tanzania Officials Want Global Clarity on CBDCs and Crypto Assets
Tanzania Officials Want Global Clarity on CBDCs and Crypto Assets Officials from Tanzania’s financial sector have called for a clearer global consensus on central bank digit
XRP Price Eyes Bullish Flag Breakout That Could Put 50% Gains On The Board
Este artículo también está disponible en español. Despite recent declines and volatility, a crypto analyst has declared that the XRP priceis on the cusp of breaking out o
Gareth Jenkinson13 hours agoEthereum L2 Starknet aims to decentralize core components of its scaling networkStarknet has laid out its roadmap to begin decentralizing core components of its Ethereum L2 scaling network to
Toncoin Sharpe Ratio Rising, Is TON Readying For $8?
Este artículo también está disponible en español. Toncoin has cemented its position as a top 10 coin. However, considering the weakness across the board, TON, the native
Block Sizes Exceeding 3 MB Now Common on Bitcoin Blockchain as Ordinal Inscription Demand Rises
Block Sizes Exceeding 3 MB Now Common on Bitcoin Blockchain as Ordinal Inscription Demand Rises Since Luxor, a bitcoin mining pool, mined a record-setting 3.96 MB block (#774,628)
US Senator Calls for Investigation Into Bank Failures — Says Fed Chair Powell ‘Bears Direct Responsibility’
US Senator Calls for Investigation Into Bank Failures — Says Fed Chair Powell "Bears Direct Responsibility" U.S. Senator Elizabeth Warren has called for a “thorough, indepe
Report: UK Gold Dealer Sold Out of Bullion After Pound’s Record Fall Causes Demand to Skyrocket
Report: UK Gold Dealer Sold Out of Bullion After Pound"s Record Fall Causes Demand to Skyrocket The United Kingdom-based gold dealer, Ash Kundra, has claimed that he recently ran o
Thailand distributing digital money to 45M citizens to boost economy
Derek Andersen7 hours agoThailand distributing digital money to 45M citizens to boost economyThe controversial plan began as a campaign promise and will help lower-income Thais buy more.1292 Total views26 Total sharesLis
Hong Kong spot Bitcoin and Ether ETFs struggle to gain traction
Zhiyuan Sun7 hours agoHong Kong spot Bitcoin and Ether ETFs struggle to gain tractionThe exchange-traded funds only managed to attract around $22.5 million in inflows during their first week of launch.1577 Total views2 T