Prominent Venture Capitalist Endorses Strategic Bitcoin Reserve

Billionaire Tim Draper, a vocal Bitcoin supporter, shared his thoughts on the U.S. government’s newly approved Strategic Bitcoin Reserve.

Tim Draper’s Comments on the Bitcoin Reserve

Draper expressed his support for the reserve, stating it is an “Awesome” idea. He believes Bitcoin is an excellent asset for the U.S. government, corporate treasuries, and families. He urged investors to start accumulating Bitcoin, tweeting:

> “Awesome. #bitcoin as a reserve. For the US, for corporate treasuries, and for #families. Make sure you have some.”
> — Tim Draper (@TimDraper) March 8, 2025

In January, Draper drew a comparison between Bitcoin and banks to Netflix versus Blockbuster, explaining that Bitcoin and blockchain technology are set to revolutionize various sectors. He believes that:

> “Bitcoin vs the banks. Digital health care vs big pharma. DeSci vs educational establishment. Robots vs Big Union bosses. Drones vs Military Industrial Complex.”

Executive Order on Bitcoin Reserve

Recently, U.S. President Donald Trump signed an executive order to create the Strategic Bitcoin Reserve, a move welcomed by many crypto advocates. While the reserve initially hinted at including top altcoins like ETH, XRP, ADA, and SOL, it will primarily consist of Bitcoin. Billionaire David Sacks commented that other coins were mentioned due to their market cap ranking.

Currently, the U.S. government is not planning immediate Bitcoin purchases, instead opting to build the reserve from nearly 200,000 Bitcoins already held by the government, largely confiscated from the Silk Road over the past decade.

Following this news and the absence of significant government purchases, Bitcoin’s value has dropped approximately 4.73%, trading at $86,220.