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.

私はビットコインの革新を深く気にかけています。

すべての騒音の中で、@Stacksと@Muneebは常に最高のビットコイン革新者であることを証明してきました。

Stacksの新しいSIP-031財務管理フレームワークは、Stacksの成長を促進します。

すでに5億ドル以上のビットコインがStacksに預けられています。これは、実際にインフラが機能している場所に流れる本物の資本です。

Stacks L2は高速な取引速度を提供し、100%のビットコインハッシュパワーのセキュリティを維持しています。

新しい財務と組み合わせたLayer 2技術は、Stacksが最大のチェーンと競争することを可能にします。

@drapervcでは、これがビットコインDeFiにもたらす前向きな影響を楽しみにしています - @ZestProtocolが先頭を切っています。

私は以前に言ったことがありますが、再度言います…ビットコインへの引力は本物です。

Stacksコミュニティは6月中旬に投票を行います。

初期の支持は強そうで、私は「はい」と投票するつもりです。

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: 

ビットコインはドルに対して無限に上昇するかもしれません。

最近の急騰を受けて、私は今年ビットコインが250,000ドルに達すると期待しています。

ビットコインがこれほど速く成長を続けるかどうかは、誰にもわかりません。

しかし、現在それを推進している主な要因は以下の通りです：

→ トランプが貿易協定を進める中での一般的な楽観主義
→ 業界が求めている新しい規制枠組みの導入
→ ビットコインブロックチェーン上に構築されたWeb3アプリ

さらに、銀行はそれを提供に加えています。長年の反対者であるJPMorganもまもなく提供を計画しています。

企業は続々と参入し、さらに主流になりつつあります。

ビットコインは他の暗号通貨や株式に比べて非常にリスクが低いと、人々が信じているからです。

それは価値の保存手段としての称号を得ています。

一方で、Layer 2ソリューションは、ビットコインにイーサリアムの柔軟性を与えながら、しっかりとした基盤を保っています。

賢い投資家は次に何が来るかを見ています。

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.