Billionaire investor Tim Draper said women could play a key role in pushing bitcoin toward the $250,000 mark.
He believes that as store owners increasingly start accepting BTC as payment, “all of a sudden all women will start having bitcoin wallets and buying things with bitcoin.”
“Then you’ll see a bitcoin price that just surpasses my estimate of $250000,” he noted.
Draper believes it is now in the best interest of retailers to start accepting BTC as early as possible.
He acknowledges that most store owners operate on low margins, so reduced transaction fees compared to working with large Visa or Mastercard credit card companies could increase incentives to use bitcoin.
According to CreditDonkey, the average credit card transaction costs merchants up to 2.9% in-store and 3.5% online for just one purchase.
According to BitInfoCharts data compiler, the average transaction fee on the bitcoin network is $1.4 per transaction.
Draper hinted that the benefit to retailers is obvious.
He added that women “control about 80% of retail spending” and that retailers could save significantly on fees paid to lending companies by choosing bitcoin.