Tim Draper

Bitcoin recently hit 61% market share, up from 40% after the first boom-bust cycle and 50% after the last one.

There is a gravitational pull toward Bitcoin. All the successful innovations on other platforms are being now ported to Bitcoin.

This matters so much more than people realize.

All the innovation that started in altcoins (smart contracts, blockchain applications, ordinals) is moving to Bitcoin.

I liken this phenomenon to Microsoft in the operating system days.

When Lotus 1-2-3 took off, Microsoft created Excel and brought it into the OS. WordPerfect succeeded, so Microsoft built Word. Then Microsoft bought PowerPoint early. All of these applications became standard with Microsoft, while the early startups were marginalized.

Bitcoin is worth $1.8 trillion. The next largest token, Ethereum is only worth $250 billion. Bitcoin gets most of the programmers now. They are gravitating toward Bitcoin.

The five applications that really matter are being built on Bitcoin—DeFi (Peer to Peer Payments, Trading, Exchanges, financial inclusion etc), Smart Contracts (supply chain transparency and traceability, asset trading and resource tracking) , Ordinals, Runes, and Layer 2 solutions like low cost micropayments.

This gravitational pull is accelerating.

We've launched a Bitcoin accelerator with @BoostVC and our own @Maxime_Bucaille. We’re two sessions in, and the results are fascinating.

Every entrepreneur building on Bitcoin has the entire ecosystem's momentum behind them.

Smart entrepreneurs are always building on the platform with the strongest gravitational pull.

That platform is Bitcoin.

When people ask what Bitcoin will be worth in 5 years, I say it will be worth one bitcoin. It may be infinite against the dollar as the dollar continues to inflate into nothingness.

In uncertain times, one thing is valuable everywhere, #bitcoin. Travels across borders. Decentralized. Immutable. Liquid. Global. The ultimate hedge against government spending.

I'm a free trader and globalist at heart.

Everyone seems to have strong emotions around Trump's tariff strategy.

Mine is excitement.

These tariffs create massive entrepreneurial opportunities. We're already seeing 3D printed shoe manufacturing moving back to the US. Companies finding creative routes from China to Indonesia to the US for lower tariff rates.

Entrepreneurs building TSMC alternatives here at home.

It reminds me of 2008 when people lost faith in the dollar and Satoshi created Bitcoin during the financial crisis.

Now we have a tariff crisis, and entrepreneurs will create tariff alternatives.

Every major disruption creates the next wave of innovation.

The entrepreneurs who see these sea changes first and adapt fastest will build the companies that define the next decade.

This is why it's such an exciting time to be in venture capital.

We get front row seats to watch brilliant minds solve problems that everyone else sees as obstacles.

I care deeply about Bitcoin innovation.

Amid all the noise, @Stacks and @Muneeb have consistently proven themselves as top Bitcoin innovators.

Stacks’ new SIP-031 treasury management framework sets Stacks up for growth.

Over half a billion dollars in Bitcoin is already deposited into Stacks. That's real capital flowing to where infrastructure actually works.

Stacks L2 provides fast transaction speed, and manages to maintain 100% Bitcoin hashpower security.

Layer 2 technology combined with a new treasury will allow stacks to compete with the largest chains.

At @drapervc we are looking forward for the positive impact this will bring to Bitcoin DeFi - with @ZestProtocol leading the charge.

I’ve said it before and I’ll say it again… the gravitational pull toward Bitcoin is real.

The Stacks community is voting mid-June.

Early support looks strong and I will be voting Yes.

Everyone should read this letter from @APompliano . I guess no one, not even Trump and Elon can stop government spending.

Once the US government allowed collective bargaining for its employees, it was like driving a truck down a mountain with no brakes.

The good news is that Bitcoin is a hedge against government overspending.

Read Pomp's letter here: 

Bitcoin might go infinite against the dollar.

On the heels of the recent surge, I’m still expecting Bitcoin to reach $250,000 this year.

Whether Bitcoin will keep gaining ground that fast, who knows.

But the main factors pushing it forward right now are:

→ General optimism as Trump works out trade deals
→ Incoming regulatory frameworks the industry’s been asking for
→ Web3 apps built onto the Bitcoin blockchain

Plus banks are adding it to their offerings. Even longtime holdout JPMorgan plans to offer it soon.

Businesses are piling in, bringing it further into the mainstream.

Bitcoin is extremely low risk compared to some other cryptocurrencies and stocks because people believe in it.

It’s earning the title of a store of value.

Meanwhile, Layer 2 solutions give Bitcoin the flexibility of Ethereum while keeping the solid foundation.

The smart money sees what comes next.

Bitcoin might be worth an infinite amount of USD.

During the Civil War, the south’s Confederate Dollar went through hyperinflation.

After starting 1:1 with USD, it ended the war at over 10 million to 1.

People lost faith and scrambled to trade their cash in for USD.

But now the US Dollar Index is having its worst start to the year in its 40 year history.

And if geopolitical tensions escalate to extreme levels, faith in the dollar may fall much farther.

Bitcoin, on the other hand, will continue to have open and transparent record-keeping and be easy to store.

And forget gold.

Gold doesn’t play in the same league as Bitcoin. It has real challenges around storage and transportation.

You can’t pay with gold at Starbucks.

Governments are already hedging against this future by holding Bitcoin in their strategic reserves.

So if the system breaks down you don’t want to be the one clamoring to withdraw cash from the bank or hoarding gold in your room.

You want to have enough Bitcoin to hold you and your family over for six months to a year.

Or, if hyperinflation happens, that Bitcoin might last a lot longer.

Gold is dead.

It just sits there. Bitcoin moves.

Borderless. Permissionless. Programmable.

You can’t buy coffee with gold.

But with Bitcoin, you can — without banks, inflation, or friction.