Male Dominance In Crypto
Throughout the year so far Bitcoin market remained bearish although end-previous year predictions were quite sanguine. However, the Bitcoin market and even the entire digital asset industry is still very much male-oriented. Bitcoin came in 2009 and even after twelve years’ time, Bitcoin has only a handful of women investors.
Some say that like in the case of other industries, digital asset industry too is dominated by male investors. The situation seems to be not changing in the near or even distant future, according to digital economy experts.
Women’s Crucial Role In Bitcoin Expected
In the words of Tim Draper, a renowned investor who is also amongst the few billionaires of the world, male dominance will continue. However, according to Draper, women have a very important role to play in digital asset particularly the Bitcoin. He believes that the majority of women will very soon be adopting Bitcoin especially for the purposes of payment.
He argued that women have great potential and he things that in the coming times, if not all, but majority of women will be maintaining digital wallets comprising Bitcoins. He expects the change to take effect suddenly which, according to him, will bring bullish back into the Bitcoin economy.
Draper suggested that more and more retailers are adopting Bitcoin. Within these retailers, a large portion of them consists of retailers of items used by women like cosmetics, apparels, jewelry, shoes and other accessories of women interest. Resultantly, they will feel the need to have Bitcoin wallets because Bitcoin payment would be a highly convenient and efficient payment method at the retail shops.
Female Products Seller Alert
Draper was recently appearing in a live podcast organized by Wolf of All Streets where he made this statement. He further claimed that Bitcoin’s price would go above US$ 250,000 primarily because of the women participation.
He remarked that “retailers are buying the idea of adopting Bitcoin as payment method. The idea will strike women consumers who would then be purchasing items of their use against Bitcoin payments.”
He urged retailers, especially the ones deal in items of women interest to ensure adoption of Bitcoin as quickly as possible. He argued that majority of the owners of stores are already selling products against low margins. Therefore, adoption of Bitcoin as payment option will be a welcome change gladly accepted by majority of the retailers.
He claimed that currently buying of products through credit cards is way more expensive than Bitcoin payments. So the incentives offered by Bitcoins in the shape of low transaction fee will evidently be considered by women consumers.
As regards the retailer, Draper suggested that with the integration of Bitcoin payment mechanism, retailers can significantly increase their profits.