Billionaire investor and Bitcoin advocate Tim Draper recently expressed his enthusiasm for the newly established U.S. Strategic Bitcoin Reserve, calling it an exciting development.
In his tweet, Draper praised Bitcoin as a valuable asset for the country, corporations, and even individual families.
He encouraged investors to begin accumulating Bitcoin, emphasizing its long-term potential.
Earlier this year, Draper drew parallels between Bitcoin and traditional banking, likening the situation to Netflix’s rise over the decline of Blockbuster.
He pointed out how Blockbuster, once a giant in the video rental industry, failed to adapt to technological change and ultimately went bankrupt, while Netflix embraced innovation and thrived.
Draper believes that Bitcoin, along with blockchain technology, will bring about significant transformations across multiple sectors, including healthcare, education, labor, and even military dynamics, positioning it as a disruptive force for traditional industries.
Metaplanet is aggressively expanding its Bitcoin holdings through an unconventional $5.4 billion capital raise, positioning itself as a leading BTC proxy in Asia.
BlueBird Mining Ventures, a London-listed firm traditionally focused on gold, is making headlines after announcing it will liquidate its gold reserves and begin accumulating Bitcoin as a treasury asset.
Bitcoin tumbled sharply today, shedding more than 3.5% in a matter of hours and briefly flirting with the critical $100,000 level.
Bitcoin is treading water near $105,000, but pressure is building on both sides of the trade as macro forces tighten.