Tim Draper on America Party (4:17)
Billionaire venture capitalist Tim Draper says some of the world’s biggest technology companies are taking an unnecessary risk by keeping Bitcoin off their balance sheets.
In a new interview on the Bitcoin Magazine podcast on Sept. 21, Draper said it is “irresponsible” for companies such as Apple and Meta not to hold enough Bitcoin to cover about a month of operating expenses.
“Both of them put your dollars at risk”
Draper’s argument rests on his view of U.S. fiscal policy.
“If I’m the head of the treasury and I’m looking at the ridiculous amount of government spending that’s been going on for the last 10 years, and the possibility of hyperinflation or crazy high interest rates, I would hold at least four weeks worth of Bitcoin on my balance sheet,” he said.
He used Apple as his example.
"Imagine being Apple. You've got all your money tied up in dollars, and it's a huge amount, crazy amounts of dollars, and you aren't holding any Bitcoin," Draper said. "That's irresponsible in a time like now, where you don't see an end to government spending."
Either outcome, he added, puts “your dollars at risk.”
A warning for corporate boards
Draper claimed that board members of a public company with no Bitcoin could be “personally liable for two to four weeks of employee compensation” if a bank holding the company’s cash fails. He did not cite a law or case to support that claim.
He added that individuals should keep around six months of reserves in Bitcoin, according to Bitcoin Magazine.
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Long-time Bitcoin bull
Draper bought nearly 30,000 BTC at a 2014 U.S. Marshals Service auction of coins seized from the Silk Road marketplace. He has repeatedly made bold price predictions since then.
His comments add to a wider debate over corporate Bitcoin treasuries. Strategy now holds about 846,000 BTC, while critics such as Peter Schiff call Bitcoin worthless. Neither Apple nor Meta has disclosed any Bitcoin holdings.
