Draper Scolds Apple, Meta for Not Holding Bitcoin

Billionaire venture capitalist Tim Draper has criticized technology giants Apple and Meta for not holding Bitcoin on their balance sheets. According to him, it's 'irresponsible' for companies of their size not to have $BTC as part of their corporate reserves.

Draper, a longtime advocate for Bitcoin, warns that current fiscal trends could lead to either hyperinflation or sharply higher interest rates. Both scenarios pose serious problems for the traditional financial system, and he believes Bitcoin would serve as a hedge against them.

Corporate Bitcoin adoption has stalled in recent years. Despite some initial momentum after companies like Strategy added Bitcoin to their treasuries, major corporations have largely failed to follow suit. In 2024, Microsoft shareholders decisively rejected a Bitcoin-related proposal, with only 0.55% of votes cast supporting it.