Why Billionaire Tim Draper Calls Apple, Meta 'Irresponsible' for Not Holding Bitcoin

Bitcoin bull and billionaire Tim Draper urged major companies including Apple ) and Meta Platforms ) to hold Bitcoin on their balance sheets.He argued that persistent government spending exposes corporate cash to inflation and higher interest rates.Why Should Companies Hold BTCSpeaking on Bitcoin Magazine podcast on Sep.21, Draper said businesses should keep at least four weeks’ worth of Bitcoin in their corporate treasuries as protection against financial-system risks.He singled out Apple and Meta as companies that should consider Bitcoin exposure, while pointing to SpaceX as an example of a forward-looking company holding the cryptocurrency.Draper argued continued government spending creates two potential risks:persistent inflation if interest rates remain low, orstress in the banking system if policymakers raise rates aggressively.He sees Bitcoin as a hedge against both scenarios and said individuals should consider keeping six months’ worth of Bitcoin available.In a move signaling deeper interest in crypto, Apple and Alphabet, Google’s parent company expressed interest to hire cryptocurrency developers and other digital asset specialists.Could Bitcoin Hit $250,000 After The Halving?Draper reiterated his long-standing $250,000 Bitcoin target, with the next halving central to his thesis.He compared Bitcoin’s declining issuance to a sharp reduction in commodity production, arguing lower new supply could support higher prices.Draper also expects Bitcoin’s role to eventually expand beyond a store of value.He predicted another two halving cycles may be needed before Bitcoin becomes widely used for everyday transactions, estimating broader retail adoption could arrive in roughly five years.The venture capitalist envisions businesses eventually raising capital, paying employees and suppliers and conducting investments entirely in Bitcoin.Such an economy could reduce reliance on traditional accounting, auditing and financial intermediaries because transactions would be recorded directly on the blockchain, he said.Draper sees Bitcoin and AI driving a broader shift toward decentralized systems, challenging traditional finance and other established industries.His venture firm, Draper Associates, has made roughly 50 BTC-related investments and continues backing Bitcoin companies alongside AI, space, biotech, transportation and education companies.Image: Shutterstock Read Also: Bitcoin Just Hit a Seven-Month High. The Analyst Calling the Bottom Expects a Pullback