Tim Draper: Bitcoin Price to Hit $250,000 6 Months After BTC Halvening Thanks to Women

News
Thu, 12/19/2019 - 11:12
Yuri Molchan
The investor and billionaire Tim Draper explains when the Bitcoin price should finally hit the long-awaited $250,000 level – thanks to women getting involved
Cover image via www.cnbc.com
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The prominent Bitcoin bull and billionaire, investor Tim Draper still believes that Bitcoin will be worth $250,000 soon and cites a more or less specific period of time.

Until then, he says, Bitcoin is likely to remain in the $7,500 price range.

$250,000 per Bitcoin 6-12 months after the halvening

Tim Draper cites TA to make a basis for his bold prediction and says that within half-a-year or a year after the approaching Bitcoin halvening in May, the father crypto is bound to hit the astronomic mark of $250,000. And that’s a modest forecast, as he said in one of his earlier interviews.

This time, speaking to BlockTV, the billionaire also said that by the time a year passes after the halvening event, a lot of regular users will have likely chosen to use Bitcoin over bank cards since the latter eat away a 2.5-percent fee every time you make a purchase.

Referring to TA experts he works with, Draper admits:

“I don’t quite understand all that but that’s what they say”.

Then he adds, already speaking his mind:

“It’s pretty likely that we’re gonna hit $250,000 by end of 2022 or early 2023 based on customer adoption of Bitcoin and I think it’s spreading.”

As for the recent reports that more Bitcoin wallets have appeared, Draper says that this may be because a lot of people are giving Bitcoin out for the coming holidays as Christmas presents.

“I’s so frustrated with banks taking from 2.5 to 4 percent every time I swipe my credit card. I’m really for this new currency [Bitcoin] that’s frictionless.”

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Women to drive Bitcoin adoption forward

When the interview host asked Draper why he believes that by 2022-2023 Bitcoin will reach the long-awaited mass adoption phase and why has not it happened already, Tim Draper said that the key role in this will be played by women:

“I think the flood gates are about to open because it turns out that women do about 75-80 percent of the shopping and only 1 out of 15 Bitcoin wallets is held by a woman. So once women realize they are wasting 2.5-4 percent every time they swipe their credit card they will definitely be starting to look for a better solution.”

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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