Businesses should hold two payrolls 'worth of cash' in crypto: Tim Draper
American venture capital investor Tim Draper warned business founders to prepare for "more and more" bank failures if the government continues to "print money and whipsaw interest rates." American venture capital investor and entrepreneur Tim Draper advised founders to keep at least two payrolls worth of cash in Bitcoin (BTC) or alternative cryptocurrencies,in response to the uncertainty created by the collapse of Silicon Valley Bank (SVB). In a March 25 report directed at business founders, Tim Draper stated that Bitcoin is a hedge against a “domino run” on the Banks and on overbearing Government intervention, adding that businesses “can no longer rely” on a single bank or governing body to manage their cash. Some tips for business cash management post SVB. https://t.co/dVEw0EJJyZ #bitcoin #trust #freedom — Tim Draper (@TimDraper) March 24, 2023 Draper suggested that business founders keep at least “6 months of short-term cash" in two separate bank accounts...