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Tim Draper Calls Bitcoin Ownership 'Irresponsible,' Proposes Treasury Allocation
Venture capitalist Tim Draper warned that businesses could eventually reject traditional currencies in favor of bitcoin, potentially leading to bank runs. Draper, founder and managing partner of Draper Associates, echoed his previous comments about the adoption of bitcoin, suggesting a $250,000 target by 2027. He urged families to hold six months of expenses in bitcoin, companies to cover four weeks of payroll, and governments to allocate part of their treasuries to the cryptocurrency.