During a recent trip to Sri Lanka, American billionaire Tim Draper proposed using Bitcoin as a legal tender to combat the corruption that caused the island nation’s hyperinflation, as reported by Cointelegraph.
According to Cointelegraph, Draper met with President Ranil Wickremesinghe and Weerasinghe during a TV shoot in Sri Lanka and suggested Bitcoin as a practical solution for solving financial issues.
Cointelegraph further noticed that Michael Saylor was a co-founder of the software analytics firm MicroStrategy, which announced plans to keep providing BTC trading services despite suffering an unrealized loss of $1.3 billion in 2022.
According to Kang, as of December 31, 2022, MicroStrategy held 132,500 BTC worth $1.84 billion. 14,890 BTC of the total were held by the company directly, and MacroStrategy had the remaining BTC.
(With insights from Cointelegraph)