Tim Draper is Trying to Make Bitcoin Billionaires Out of Us All!

We have all heard it before – invest in Bitcoin, it’s the future of money! But now, billionaire venture capitalist Tim Draper has taken things to the next level, telling businesses to keep payroll in Bitcoin. Is this really the way to go? We may have to look into this a little deeper before we put our salaries into cryptocurrency.

The Pros

There are definitely some positives to consider here, such as:

  • Lower Transaction Fees: Bitcoin has incredibly low transaction fees, which means more money stays with the business.
  • Higher Security: Cryptocurrencies are much more secure than other forms of payment, meaning your payroll is much less likely to be hacked.
  • Borderless Payments: With Bitcoin, businesses can pay their employees from anywhere, without worrying about international banking fees.

The Cons

But of course, there are also some potential drawbacks, too:

  • Volatility: Cryptocurrencies can be highly volatile, which means that businesses may find it hard to accurately budget their payroll.
  • Taxation: Bitcoin may not be taxed in the same way as traditional currency, so businesses will have to make sure they are up to date with the latest laws and regulations.
  • Confusing: Let’s face it, Bitcoin can be a bit confusing for some, with all the complicated blockchain technology. Businesses may have to invest time in educating their employees.

The Final Verdict

At the end of the day, it really depends on the business – if they think that the pros outweigh the cons, then it may well be worth considering. But one thing is for certain: Tim Draper is doing his best to make Bitcoin billionaires out of us all!