Move “At Least 6 Months in Short-term Cash” Into BTC - Billionaire VC Tim Draper
Article source, here.
TL;DR
Tim Draper is recommending that businesses keep "at least 6 months in short-term cash" in Bitcoin, so that if things go to hell in the banking sector, they can still make payroll.
Five years ago Bitcoin was that 'funny internet money' that your cousin used to buy dr*gs online.
Now BTC is: A globally recognized digital asset, held on the balance sheet of multiple public companies.
Appearing to react positively, in real time, to inflationary fear. While being as a 'safe haven' from banking collapses. Not bad!
Full Story
You feel that?
The strange sense of calm...
Weird ain't it? It's not like there isn't a bunch of uncertainty in the markets at the moment - so why this sense of stillness?
Maybe it's because we're not faced with stories of bank collapses and hyperinflation fears, like we have been the past two Mondays?
(Or maybe it's just us? To be fair, the sun is out in New York, which is likely playing a big factor).
All we know for sure is, as of this writing - the news cycle feels pretty darn bland...and we couldn't be more thankful for it!
Seriously, the biggest headline right now is that billionaire venture capitalist Tim Draper is recommending that businesses keep "at least 6 months in short-term cash" in Bitcoin, so that if things go to hell in the banking sector, they can still make payroll.
Let's take that headline and use it as an excuse to lean into this momentary break in madness.
We'll start by zooming out...
Five years ago Bitcoin was that 'funny internet money' that your cousin used to buy dr*gs online (we're not prudes - we bleeped that so this email wouldn't go to spam).
...now, Bitcoin is:
A globally recognized digital asset, held on the balance sheet of multiple public companies.
Appearing to react positively, in real time, to inflationary fears (just like everyone in the BTC community said it would).
Seen as a 'safe haven' from banking collapses (1M new Bitcoin wallets were created the same weekend Silicon Valley Bank collapsed).
Not bad!