Following the implosion of Silicon Valley Bank, Bitcoin price has been surging and businesses across the globe are restrategizing their finances as a result.
Billionaire venture capitalist Tim Draper has published a list of recommendations for businesses in the new macro climate, in which he recommends companies keep a portion of cash in Bitcoin to cover payroll.
Tim Draper Tells Businesses To Keep Payroll In Bitcoin
Things got complicated extremely quickly for business customers of Silicon Valley Bank. Big tech companies with millions and billions of dollars in the bank, are suddenly worried about their deposits.
It’s caused a mad dash to diversify or move to bigger, perceived safer banks, and a huge rally in Bitcoin from $20,000 to $28,000 in two weeks. Businesses are feeling insecure about their money in an unfamiliar way, leading to uncertainty.
Billionaire investor Tim Draper has shared some strategies he recommends…
