Tim Draper: It is irresponsible for Apple and Meta not to hold Bitcoin

According to Bitcoin Magazine, billionaire investor and founder of Draper Associates Tim Draper stated on the Bitcoin Magazine podcast that government spending has not slowed down, which will only lead to two outcomes: hyperinflation or interest rates high enough to collapse banks. He believes that it is "irresponsible" for companies like Apple and Meta not to hold Bitcoin on their balance sheets.

Draper suggested in the program that every business should hold at least the equivalent of four weeks of operating expenses in Bitcoin, each individual should hold about six months' worth of Bitcoin reserves, and every government should also hold Bitcoin as a hedge. He further explained that when banks holding cash fail, not having any Bitcoin on the board will expose legal and financial risks.

Additionally, Draper linked his $250,000 Bitcoin price target to the next halving event and the subsequent supply shock.