Draper Slams Apple & Meta Over Lack of BTC Holdings
Tim Draper, founder of Draper Associates, believes it is irresponsible for major companies like Apple and Meta not to hold Bitcoin on their balance sheets. In a recent podcast conversation with Bitcoin Magazine, he argued that businesses should have at least four weeks' worth of operating expenses in Bitcoin, individuals six months' worth, and governments a Bitcoin hedge.
Draper made the case that boards holding zero Bitcoin are exposed legally and financially when a bank holding their cash fails. He emphasized that government spending has not slowed down, leaving only two possible outcomes: hyperinflation or interest rates high enough to break banks.
He also discussed his $250,000 Bitcoin price target, attributing it to the next halving and the subsequent supply shock. Draper believes that every business should consider holding Bitcoin as a safe harbor against economic uncertainty.