Draper Slams Apple and Meta for Lack of Bitcoin Exposure
Tim Draper has criticized major technology companies for excluding Bitcoin from their balance sheets. In an interview on the Bitcoin Magazine podcast, he said that it is 'irresponsible' for these companies to not own at least enough Bitcoin to cover about a month of operating expenses.
Draper believes that Bitcoin is a store of value and that current government spending trends will lead to hyperinflation or a financial crisis. He points out that if a company's bank goes under, holding only dollars can put their assets at risk due to inflation or high interest rates.
He uses Apple as an example, saying that the tech giant has 'crazy amounts of dollars' tied up in cash but no Bitcoin on its balance sheet. Draper argues that it is irresponsible for a board member not to own any Bitcoin, especially given the current economic climate.