Venture capitalist Tim Draper declared that individuals and companies holding traditional currencies face significant risk as commerce moves toward Bitcoin. On Oct. 28, Dra founder and managing partner of Draper Associates, said it is irresponsible not to own Bitcoin.
Draper argued businesses will first accept Bitcoin alongside other payment methods before transitioning to exclusive Bitcoin acceptance. This shift in merchant preference would reduce demand for the dollar and other government-issued currencies.
He predicted this erosion of fiat currency demand would prompt widespread withdrawals from banks. "Then people will not value dollars or fiat, and there will be a run on the banks. Eventually, the world will never be the same," Draper said.
These comments align with Draper's longstanding adoption thesis behind his $250,000 Bitcoin forecast. He initially made this prediction in April 2018, targeting a 2022 achievement. He later extended the deadline to mid-2023 and then to 2025, neither of which saw the target reached. On April 14, Draper renewed his $250,000 forecast, setting an 18-month window that implies an October 2027 target.
At the Bitcoin 2026 conference in Las Vegas, Draper emphasized that it is irresponsible for companies not to maintain a five to 15 percent Bitcoin treasury allocation. In remarks on Sept. 10, Draper urged families to hold six months of expenses in Bitcoin and companies to cover four weeks of payroll with the cryptocurrency.
Following the Silicon Valley Bank collapse in 2023, Draper advised startups to maintain at least two payrolls' worth of cash in Bitcoin or other cryptocurrencies, and to hold six months of short-term cash in each of two separate banks.
Existing payment infrastructure already supports Bitcoin transactions, allowing merchants to retain dollar pricing and receipts. Square began its Bitcoin payment rollout on Nov. 10, 2025, using the Lightning Network, with eligible U.S. sellers outside New York able to receive Bitcoin or opt for immediate conversion into dollars.
PayPal offers Bitcoin payments with automatic currency conversion through its Pay with Crypto service, allowing eligible U.S. merchants to accept Bitcoin and other supported cryptocurrencies and receive fiat currency.
