Will Netflix soon buy bitcoin?


The recent conversations in the markets about Bitcoin have undergone a significant shift. Speculators have moved on from asking “if” a company will add Bitcoin to their balance sheet to predicting which company will do so next. On the most recent episode of the Unstoppable Podcast, billionaire Tim Draper speculated that Netflix could be the next major company to purchase the digital asset.

Draper made the following statement in reference to the possibility of the product company deciding to purchase BTC:

Do you have any idea who it could be? Netflix.

I believe Reed Hastings is a very forward-thinking individual who possesses a great deal of creative thinking, and I believe he still holds sway over the reins at Netflix; consequently, I believe that could be the next major company to fail.

At the same time, Draper is of the opinion that it is likely that Amazon will begin accepting Bitcoin “pretty soon.” He made the observation that customers of the e-commerce giant have, at the very least in a roundabout way, been making purchases of products using cryptocurrency for several years. In addition to this, on February 2nd, Amazon Web Services (AWS) made the announcement that Ethereum would be available on Amazon Managed Blockchain.

Coincidentally, after Draper’s prediction, Ki Young Ju, the CEO of CryptoQuant, stated that BTC whales were accumulating the asset. He was of the opinion that Bitcoin’s price had bottomed out at “the institutional buying level, 48k,” and was currently recovering. He also mentioned that the majority of exchange outflows that went to custody wallets were at the price of 48,000.

The forecast provided by Draper is comparable to that of a great number of the industry’s other experts. Daniel Ives, an analyst at Wedbush Securities, was asked about Tesla’s strategy for investing in bitcoin, and he stated that he believes that other public companies are going to follow in Tesla’s footsteps and adopt a similar strategy for investing in bitcoin.

At the time of this writing, the price of Bitcoin was above $51,000, representing a 5.2% increase over the course of the previous day.