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

Bitcoin (CRYPTO: BTC) bull and billionaire Tim Draper urged major companies including Apple (NASDAQ:AAPL) and Meta Platforms (NASDAQ:META) 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 BTC

Speaking 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, or
• stress 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.