Will Netflix be the next to buy Bitcoin? Tim Draper thinks so

  • Netflix co-founder and CEO Reed Hastings may be the next to buy Bitcoin to protect the company from inflation.
  • Draper also speculates on the possible addition of Bitcoin as a payment method on Amazon.

Ever since Elon Musk and Tesla announced the purchase of $1.5 billion in Bitcoin, the community has been speculating about which giant will be the next to enter the crypto market. From Apple to Twitter to SpaceX, speculation is rife. Billionaire Tim Draper is the latest to propose a candidate.

Draper, a venture capitalist and Bitcoin bull, auctioned about 30,000 BTC for an average price of $632 in 2014, which belonged to the black market “Silk Road,” founded by Ross Ulbricht.

In an interview for the Unstoppable Podcast, Draper predicted yesterday that Netflix will be the next company to buy Bitcoin. His speculations are based on his personal experience with Netflix CEO and co-founder Reed Hastings, Draper said:

You know who it might be? Netflix. I think Reed Hastings a very innovative guy and has a lot of creative thinking and I think he still controls the reigns at Netflix so I think that might be the next big one to fall.

The Bitcoin bull believes that the financial divisions of large companies must be studying Bitcoin. Eventually, he believes they will realize that the cryptocurrency is a hedge against dollar inflation caused by the Federal Reserve’s monetary policies. Thus, they have to adopt Bitcoin.

Amazon could be a candidate as well

On the possibility of Google, Facebook, and Apple embracing BTC, the billionaire stated that these companies are busy trying to create their own centralized currencies. However, he believes that Amazon could “start accepting Bitcoin very soon”.

Yesterday, the Jeff Bezos-led company announced that its Amazon Web Services (AWS) will begin supporting Ethereum on its Amazon Managed Blockchain. As a result, Amazon’s service customers can use Ethereum nodes to connect to the mainnet and other test networks, such as Rinkeby and Ropsten.

If Amazon continues to open up to cryptocurrencies it seems likely that the Bezos led company will eventually allow its customers to Bitcoin as a payment method. In the long term, Draper believes that BTC will be a widely accepted asset by all market participants:

(…) all the pensions, all the people who are fiduciaries and have to take care of people’s money. They are going to have to own some Bitcoin because… They’re fiduciaries, they need to understand all the markets and see where there’s potential gain, potential loss, hedging needed, all of that.

This is not the first time the billionaire has made a provocative prediction. As reported by CNF in 2020, Draper revealed to own Bitcoin (BTC), Bitcoin Cash (BCH), Tezos (XTZ), XRP among others. Despite having made a massive profit on his BTC funds, the billionaire expects the cryptocurrency to reach $250,000 in the next few years.

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