Billionaire Tim Draper Calls for Third Cryptocurrency Bill to Allow Businesses to Operate Entirely on Bitcoin
Billionaire venture capitalist Tim Draper called for the introduction of a third cryptocurrency bill at the Bitcoin 2026 conference.
The bill aims to allow individuals and businesses to operate entirely on the Bitcoin network, with all taxes and payments processed automatically on-chain, without the need for traditional intermediaries.
The acceleration of cryptocurrency adoption is marked by continuous inflows of institutional and individual funds into Bitcoin-related infrastructure and Layer 2 solutions, event-driven regulatory lobbying, and the development of on-chain tools. Participants in the Bitcoin network and DeFi protocols stand to benefit, while traditional banks and tax intermediaries face pressure from business alternatives.
Source: Public Information
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Tim Draper has been advocating for cryptocurrency policy since purchasing the first batch of Bitcoin auction items for $11 million in 2014. He supported California's crypto-friendly bill in 2018 and has repeatedly called for regulatory innovation at Bitcoin conferences in recent years, previously predicting that Bitcoin would reach $250,000.
In terms of capital pathways, Draper mobilizes venture capital and educational resources through Draper Associates and Draper University, investing in early Bitcoin and blockchain projects. His motivation is to accelerate the transition of sovereign currencies to a Bitcoin standard and to amplify the network effects and adoption rates of his investment portfolio through policy advocacy.
Similar to the ICO boom driven by cryptocurrency bills in 2017-2018 and El Salvador's Bitcoin legalization, the current crypto industry is transitioning from speculative assets to infrastructure and everyday business tools.
Essentially, this represents a restructuring of the industry chain: on-chain automatic tax and payment mechanisms will directly transfer the functions of traditional financial intermediaries to the Bitcoin protocol layer, concentrating resources into decentralized infrastructure through smart contracts and Layer 2 technology, reducing regulatory friction and reshaping the cost and efficiency structure of business operations.