In a recent news article, risk investor Tim Draper, who has been involved in investments with Coinbase, Ledger, and Tezos, suggested that startups should consider using Bitcoin as a way to hedge risks, especially in light of the recent bank collapses in Silicon Valley. Draper advised these companies to diversify outside of the banking industry and allocate one-third of their capital into Bitcoin.
According to Draper, “Put one-third of it in the big banks, and one-third of it in the small banks, because the U.S. government can bail out the small banks, and then put one-third of it in Bitcoin.” He further explained his view on BTC by stating, “If there is a domino effect and all banks are in trouble, then you will have money to pay salaries, and that money will be in the form of Bitcoin.”
Source: https://cointelegraph.com/news/startups-hedge-risk-bitcoin-tim-draper
Tim Draper, Bitcoin, Banks, Risk.