Famous venture capitalist and Bitcoin bull Timothy “Tim” Draper prophesied that the online streaming platform Netflix could be the next organization to accompany the Bitcoin buying bandwagon. Conversing in a recent episode of the Unstoppable Podcast, Tim Draper predicted that Netflix could be the next one to add Bitcoin to its balance sheet. He states that the company’s co-founder and co-CEO, Reed Hastings, makes Netflix a possible Bitcoin investor.
Meantime, the venture capitalist considered social media giant Facebook and other influential companies such as Apple and Google as probable candidates to fund in Bitcoin. Nevertheless, Draper elucidated that the companies were instead striving to develop a centralized currency of their own. Further, Draper says that if he were the CFO of any significant organization, he would recommend the company allocate a portion of their portfolio to Bitcoin. As per Tim Draper, Bitcoin serves as a hedge against inflation. Draper’s forecast came between the growing demand for Bitcoin among institutional investors. Over the past week, Coinbase Pro listed various large transactions with Bitcoin at $48,000.
Amazon may start accepting Bitcoin
After Tesla’s $1.5 billion investment in Bitcoin, there have been considerations about which company would follow Tesla’s move. High institutional interest in Bitcoin is mainly responsible for Bitcoin’s bullish momentum. Moreover, firms such as MicroStrategy and Square recently added to their Bitcoin holdings. Apart from pitching Netflix as the next likely Bitcoin investor, the venture capitalist declared that the retail giant Amazon could begin accepting Bitcoin. He further added that people could utilize the flagship crypto to purchase products on Amazon.
In February, there were reports that Amazon was looking to introduce a new project that would allow consumers to convert cash into digital currency. While the project would commence in Mexico, the company did not declare what digital assets it would support. Nevertheless, there were rumors that the company may not employ popular crypto-assets such as BTC or ETH. The venture capitalist made a forecast earlier in 2020 that Bitcoin’s price would surpass $250,000 by the end of 2022 or early in 2023.
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