Venture capital investor Tim Draper thinks it likely that Netflix will be the next company to delve into Bitcoin
Tim Draper has identified Netflix as the next company expected to make the next major Bitcoin acquisition. Draper, a bitcoin bull, selected the streaming service provider based on an assessment by its co-chief executive Reed Hastings. He also announced that if he were the chief financial officer of a large corporation, he would advise that company to make a Bitcoin purchase.
The venture capitalist explained the reasons for his [Netflix] The postulation is that Hasting’s influence will likely lead Netflix to add Bitcoin to its balance sheet. Draper made his prediction when he spoke on episode 15 of the Unstoppable Podcast, which was released earlier this week.
Backing up his guess about the next institutional investor, he said: “I think Reed Hastings is a very innovative guy and has a lot of creative thinking. I think he still controls the reins on Netflix. And so I think this could be the next big thing. “
Other names like Apple, Facebook, and Google popped up during the episode, with Draper briefly saying they were potential investors. Although he welcomed them as possible candidates likely to break into the crypto, he admitted that they were also in the process of creating their centralized currency.
Tesla is the youngest company to add bitcoin to its book after the energy and automotive company announced a billion-dollar investment in bitcoin last month. There have been many guesses as to which company will follow in the automaker’s footsteps.
As many analysts have noted, the growing institutional interest has resulted in an upward momentum in the Bitcoin market. The next company to make a sizeable Bitcoin acquisition is likely to have the same effect. Although there was no new name, early entrants such as Square and MicroStrategy continued to add to Bitcoin reserves.
Draper added that e-commerce giant Amazon could soon accept Bitcoin as a form of payment. This allows users to use the crypto asset to complete purchases on the retail platform.
Last month it was reported that Amazon was considering a project that would allow its customers to convert fiat currencies into digital currencies. The project is said to have started in Mexico. However, Amazon did not reveal which digital assets would be supported, but many believe the company will not use Bitcoin or Ether.