Women can help drive Bitcoin to $350K

 Women can help drive Bitcoin to $350K

Cryptocurrency continues to see greater adoption around the globe, with a major shift likely to come after the latest market downturn. Some of the upside impetus could actually be triggered from a group of market participants not currently a huge part of the space ,women.

Recently Survey reports have shown that women currently make up only a little percentage of investors in cryptocurrency.

For instance, an CNBC survey in Aug last year showed that male involvement in cryptocurrency was more than double that of women – sixteen percentage for men crypto compared to seven percent for women. The gap is also pretty much the same in the Exchange-Traded Funds market, statistics showing a fourteen to seven ration in favor of men.

So, what happens if the cryptocurrency space saw increased adoption by women? 

According to venture capitalist Tim Draper, it would catalyze cryptocurrency’s next bull run. In his opinion, shared during a podcast with Scott Melker, this has the potential to push cryptocurrency prices to a new peak level. 

But the billionaire investor says there’s something that needs to happen before we see a narrowing of the gender disparity – more store owners need to accept payments in Bc

Bitcoin could ‘blow right through’ $350k

According to Draper, Bitcoin represents a great payment method for mostly stores, which he noted, have low operating margins. Adding support for Bitcoin payments thus allows them to tap into low transaction fees while providing fresh ways to incentivize customers.

While transaction costs for Bitcoin average 1.4 usdt the cost is way higher for merchants and customers using Visa and MasterCard. On average, in-store transactions with credit cards cost up to two point nine percent. Fees range around three point five percent for online purchases.

These are costs stores could avoid if they choose BTC, adding that further benefits would come from increased customers. Women control roughly eighty percent of the retail spending power.

Draper’s prediction if a higher percentage of women began using BTC? He is holding up for a potential bull market that could “just blow right through” his earlier forecast of $350,000. 

More women entering the BTC Market

Cryptocurrency adoption remains on a slow ascent, with Morning Consult showing that just two percent more Americans (from July 2021) said they own cryptocurrencies (now twenty four percent of US adults).

The data intelligence firm did however find an interesting trend in another survey – women make up thrity percent of all Americans who say they own crypto. The numbers are higher compared to early 2021 and align with findings in Australia where exchange usage among women was reported to have soared 175%. That’s more than double that of men at eighty percent

And it’s not just more women coming into crypto, they are making higher initial deposits compared to men at an average of $3,381 versus $3,060.

Evidently, there are more women coming into cryptocurrency and trading and Draper says this adds to the positive outlook for Bitcoin. A lot of the positivity relates to increased support for the flagship crypto as a payment method by merchants and online stores.

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