Tim Draper on Stategic Bitcoin Reserve: 'Awesome. Make Sure You Have Some'

Cover image via www.youtube.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News Advertisement Prominent venture capitalist and Bitcoin supporter, billionaire Tim Draper , has published a tweet to share his take on the recently approved creation of the Strategic Bitcoin Reserve in the U.S. Related Sat, 03/08/2025 - 08:15 1,000,000,000 DOGE in 24 Hours - What's Happening? Yuri Molchan Tim Draper on Bitcoin Reserve Being a vocal Bitcoiner, Draper commented on the idea of making such as reserve: “Awesome.” He added that Bitcoin is a great asset to store for the U.S. as a whole, corporate treasuries and families. HOT Stories Tim Draper on Stategic Bitcoin Reserve: 'Awesome. Make Sure You Have Some' Fed's Jerome Powell Drops Insight; Here's How Crypto Market Reacted 15,566,450 SHIB at One Go: What Happened? Binance's CZ Teases Important Pascal Hardfork That Will Boost BNB Chain “Make sure you have some,” he tweeted, urging investors to start accumulating Bitcoin. Advertisement Awesome. #bitcoin as a reserve. For the US, for corporate treasuries, and for #families . Make sure you have some. https://t.co/BJdvpJfE85 — Tim Draper (@TimDraper) March 8, 2025 In January this year, Draper compared Bitcoin and banks to Netflix versus Blockbuster. The latter was a popular video chain rental store back in the 1990s, with thousands of shops around the world. Once the internet spread like wildfire, the company began to have difficulties staying afloat. It rejected an offer to buy Netflix for $50 million at the start of the 2000s. While Netflix launched its own streaming service in 2007, Blockbuster gradually faded and in 2010 filed for bankruptcy, while Netflix continues to prosper. Draper stated that Bitcoin and blockchain are going to transform the world in many crucial spheres: “Bitcoin vs the banks. Digital health care vs big pharma. DeSci vs. educational establishment. Robots vs Big Union bosses. Drones vs Military Industrial Complex.” Related Fri, 03/07/2025 - 05:42 Bitcoin Plunging Lower Despite BTC Reserve Hype Alex Dovbnya Executive order to create Bitcoin Reserve signed Earlier this week, U.S. President Donald Trump signed an executive order to establish a Strategic Bitcoin Reserve. That historic move was praised by many crypto-friendly financial experts and Bitcoin proponents on the X social media giant. However, contrary to the previous announcement, it seems that the reserve will consist solidly of Bitcoin, while such top altcoins as ETH, XRP, ADA and SOL were also named. Now, the "crypto czar," billionaire David Sacks, stated that Trump named them just because they were top 10 coins by market capitalization size. Besides, the U.S. government, so far, is not planning to make any immediate Bitcoin purchases; it is going to build the reserve from almost 200,000 Bitcoins held by the government already. Those coins were confiscated mostly from the Silk Road over the past 10 years. In light of this news and no big buys from the government on the horizon, the world’s bellwether crypto, Bitcoin, plunged by roughly 4.73% and is currently trading at $86,220. #Bitcoin #Crypto Strategic Reserve