Billionaire Tim Draper is a well-known believer in Bitcoin who thinks retailers will one day accept only Bitcoin payments.
Draper's belief in Bitcoin isn't limited to mere words. His strong advocacy for the cryptocurrency is reflected in his multiple interests. As a veteran venture capital investor, he has invested in crypto companies like Coinbase (Nasdaq: COIN) and Robinhood Markets (Nasdaq: HOOD).
People HODLing, not spending Bitcoin
Draper appeared on Bloomberg Television's "Open Interest" show on Sep. 29 in which he underlined that there is a gradual, gravitational pull from fiat money to Bitcoin amidst the transformation of the banking and financial industries.
But the host, Matthew Miller, wondered how Bitcoin can disrupt banking if people aren't going to spend it. He mentioned Michael Saylor , co-founder and executive chairman of the world's largest Bitcoin treasury firm, Strategy (Nasdaq: MSTR), who urges people not to spend Bitcoin at all.
"I don't think a lot of people would want to do that today."
It isn't an illogical stance, given the fact that Bitcoin has only been rising in value over the last few years and has cemented its status as a "store of value" which can be a potential hedge against inflation.
More News:
-
Bilionaire Tim Draper shares blunt words for U.S. government: 'Need to get serious..'
-
Analyst warns of 'wild' October as XRP, Litecoin, Solana ETF deadlines near
Tim Draper predicts retail will push people to spend Bitcoin
Draper admitted the fact that people aren't willing to spend Bitcoin today but predicted that there will be a moment when all the retailers will start accepting Bitcoin. He added that retailers will, in fact, one day say,
"I only accept Bitcoin."
That will be the moment when people will start spending Bitcoin, Draper predicted.
As per Kraken's price feed , Bitcoin was exchanging hands at $113,249.88, up more than 75% in a year.
Related: What is Crypto? Cryptocurrency explained
This story was originally reported by TheStreet on Sep 30, 2025, where it first appeared in the Investing section. Add TheStreet as a Preferred Source by clicking here.
