Businesses Without Bitcoin Are 'Being Irresponsible', Says Billionaire Investor Tim Draper
Tim Draper stated that businesses not purchasing Bitcoin for their treasuries are “being irresponsible.” He emphasized that all entities should hold Bitcoin, as governments are recognizing its value. Draper predicts Bitcoin will reach $250,000 by the end of 2025 and plans to establish a fund operating entirely on Bitcoin within five years, utilizing smart contracts for automatic taxation and record-keeping. Companies like Strategy and Semler Scientific are adding Bitcoin to their treasuries, with Bernstein analysts forecasting $330 billion in corporate Bitcoin holdings by 2029. Draper noted a shift towards Bitcoin for development over altcoins, despite ongoing debates among developers about technical changes. Bitcoin's price is currently around $97,000, down from its all-time high. Draper attributes the price stagnation to over-regulation and likens Bitcoin's impact on commerce to the historical significance of gunpowder in warfare. He envisions a future where commerce transitions from fiat to stablecoins to Bitcoin, potentially diminishing the dollar's relevance.
