The venture capitalist argued that not owning Bitcoin is irresponsible, citing the Silicon Valley Bank collapse as an example of banking system risk.
Tim Draper said it is irresponsible for companies not to own Bitcoin, framing the asset as a safeguard against weaknesses in the traditional banking system. He pointed to the Silicon Valley Bank crisis as evidence that corporate treasury strategies tied only to banks can face concentration and counterparty risks. The statement reflects a common crypto industry argument that Bitcoin can serve as an alternative store of value outside conventional financial institutions.