According to billionaire Tim Draper, Netflix is likely to be the next giant to tap into the Bitcoin pie.
Will it soon be called: “Bitcoin and Chill?” Yes, at least when it comes to investor and billionaire Tim Draper. In a podcast on YouTube, he predicted that the streaming service could be the next big business to succumb to the charms of Bitcoin. Before he gave his tip, however, Draper first described the core characteristic that the future investor must have. An innovative CEO at the top of the company is crucial for getting started with Bitcoin. So Draper first tapped on Facebook’s Mark Zuckerberg, but then changed his decision and tapped Reed Hastings, the founder and CEO of Netflix.
I think Reed Hastings is a very innovative guy with a lot of creative thinking. I think he’s still in control of Netflix. That’s why I say they will be next.
Tim Draper in “The Unstoppable Podcast”
Draper also estimated in the post a possible price limit for Bitcoin and said: “You know, the foreign exchange holdings in US dollars are currently around 100 trillion. Bitcoin’s market cap only recently hit $ 1 trillion. So there is no reason why it should not multiply a hundredfold.”
It is unclear whether Netflix is now getting into Bitcoin. Netflix is one of the few crisis winners from the pandemic. Because of the global lockdown, many more users spend their time on the streaming platform. Netflix is of course pleased financially. The US company had over 8.2 billion US dollars in cash reserves at the end of 2020. If the streaming service uses this cash under current market conditions (BTC rate of $ 50,600 and BTC in circulation of 18.62 million) were to invest entirely in Bitcoin, Netflix would receive around 162,055 BTC. This would mean that the company would hold around 0.87 percent of all Bitcoin worldwide.
P.S. You Can Support me For Free Through ALL of these Links and earn some Crypto/Money Yourself! https://allmylinks.com/zealdorn
Disclaimer: These lines are not a substitute for investment advice, investments in the crypto market are made at your own risk. Invest only as much as you are willing to lose. I get commissions for purchases made through links in this post.