HomeLatest NewsTim Draper believes Netflix could be next to invest in Bitcoin

Tim Draper believes Netflix could be next to invest in Bitcoin

Venture capital investor Tim Draper thinks it likely that Netflix will be the next firm to get in on Bitcoin

Tim Draper has identified Netflix as the next company that is likely to make the next significant Bitcoin acquisition. Draper, a Bitcoin bull, handpicked the streaming service provider based on an assessment of its co-chief executive Reed Hastings. He further revealed that if he were the chief financial officer of any major firm, he would advise that firm to make a Bitcoin purchase.

The venture capitalist explained the rationale behind his [Netflix] postulation saying the influence of Hasting will likely see Netflix add Bitcoin to its balance sheet. Draper made his prediction while speaking during Episode 15 of the Unstoppable Podcast, posted earlier this week.

Backing his conjecture about the next institutional investor, he said, “I think Reed Hastings is a very innovative guy and has a lot of creative thinking, and I think he still controls the reins at Netflix. And so I think that might be the next big one to fall.”

Other names like Apple, Facebook, and Google came up during the episode, with Draper speaking briefly that they were potential investors. Even though he hailed them as possible candidates likely to get in on the crypto, he acknowledged that they were also in the process of creating their centralised currency.

Tesla is the most recent company to add Bitcoin to its book after the energy and automotive company announced a billion-dollar Bitcoin investment last month. There has been a lot of surmises about which firm will follow in the footsteps of the automaker.

As many analysts have noted, growing institutional interest has led to bullish momentum in the bitcoin market. The next firm to make a sizable bitcoin acquisition will likely have the same effect. While there hasn’t been a new name, early entrants like Square and MicroStrategy have continued adding to the bitcoin reserves.

Draper added that the eCommerce giant Amazon might soon start accepting Bitcoin as payment. This will allow people to use the crypto asset to complete purchases on the retail platform.

Last month, it was reported Amazon was considering a project that would allow its customer to convert fiat currency to digital currency. The project is said to have been launched in Mexico. Amazon, however, didn’t disclose what digital assets would be supported, but many believe the company won’t use Bitcoin or Ether.

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