Billionaire Tim Draper, a prominent venture capitalist and Bitcoin supporter, expressed his approval of the creation of the Strategic Bitcoin Reserve in the U.S. Draper believes that Bitcoin is a valuable asset for the country, corporate treasuries, and families, urging investors to accumulate Bitcoin. Additionally, Draper compared Bitcoin to banks, stating that it, along with blockchain, will transform various aspects of the world. However, despite the initial announcement, it appears that the reserve will primarily consist of Bitcoin rather than other top altcoins. The U.S. government is not planning immediate Bitcoin purchases but will instead utilize the almost 200,000 confiscated Bitcoins it already owns. Following this news, Bitcoin's price experienced a 4.73% drop and is currently trading at $86,220.



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