Tim Draper’s Bitcoin Ultimatum: ’Going Without Crypto Is Corporate Malpractice’
Venture capital titan Tim Draper just dropped a truth bomb on corporate boards—calling Bitcoin avoidance ’irresponsible’ in today’s digital economy. The billionaire—who nailed early bets on Tesla and Skype—says legacy finance strategies are now as outdated as fax machines.
Why it matters: While Wall Street hedgies still debate ’blockchain, not Bitcoin,’ Draper’s throwing gasoline on the fire. His track record suggests this isn’t just crypto hype—it’s a warning shot for CFOs clinging to 20th-century balance sheets.
The kicker: ’Remember when ’mobile-first’ sounded radical?’ Draper quips. Meanwhile, goldbugs and treasury secretaries everywhere clutch their pearls—and their rapidly depreciating fiat.
Bitcoin’s “gravitational pull”
A growing number of companies are adding Bitcoin to their corporate treasuries, notably U.S. firm Strategy, medical device manufacturer Semler Scientific and Japanese company Metaplanet. Just two days ago, Bernstein analysts predicted that corporate treasuries will suck in $330 billion in Bitcoin by 2029, as smaller firms copy Strategy’s playbook.
Draper also suggested that there’s a “gravitational pull toward Bitcoin” and away from altcoins as a platform for development.
“A lot of the creativity used to be around Ethereum, Solana,” he said, adding that, “now most of the engineers and entrepreneurs are driving it toward Bitcoin. So Bitcoin now has smart contracts, Bitcoin now has DeFi, it has Ordinals, it has Runes.”
However, Bitcoin’s increasing role as a software platform beyond financial applications has proved contentious among its developer community. Bitcoin devs are currently at odds over a technical change that would enable it to store larger amounts of non-financial data directly on the blockchain, with one longtime Bitcoin CORE contributor arguing that the change would turn Bitcoin into a “worthless altcoin.”
The road to $250,000
Bitcoin’s price is currently hovering around $97,000, down 11% from its all-time high set in January ahead of U.S. President Donald Trump’s inauguration. Draper argued that Bitcoin had yet to reach his predicted $250,000 figure because “we were over-regulated for four years,” under the Biden administration, and likened the cryptocurrency to “when the Brits discovered gunpowder.”
“It’s a complete change,” he said. “You wouldn’t do war the same way after gunpowder; you don’t do commerce the same way after Bitcoin.” Arguing that the cryptocurrency is “just better technology,” he predicted that “eventually I believe that the path will be fiat to stablecoin to Bitcoin,” and that ultimately, “we’re eventually going to see a time where we’re really not measuring against the dollar, because there won’t be a dollar.”
Edited by Andrew Hayward
Image credit
Main image by Stephen McCarthy/Web Summit Rio via Sportsfile licensed under CC BY 2.0.
