Tim Draper, a venture capitalist, is sticking to his forecast that Bitcoin (BTC) will rise to a price of over $250,000, a parabolic increase of more than 1,400% from the king cryptocurrency’s current value.
Draper reveals in a recent interview with Bloomberg what he thinks would be the impetus for a Bitcoin rally to $250,000 in the interview.
“The reason it gets to $250,000 and probably beyond is that it will take a moment when you can buy your food, your clothing and your shelter all in Bitcoin.
And here are the statistics that I know: women control 80% of retail spending. And that’s usually the food, the clothing and the shelter. And women only have, way back it was like one in 14 Bitcoin wallets, and now it’s one in six.
And when women realize that they can get a discount by paying in Bitcoin, when retailers realize they can double their profits by accepting Bitcoin, it’s going to move pretty quickly.”
The well-known VC reiterated his forecast that Bitcoin will eventually reach a price of $250 000 in May.
Draper claims that as an investor in the cryptocurrency space, he is concentrating on decentralized assets in light of the high-profile collapse of FTX.