BTC bull and famous venture capitalist Tim Draper recently stated that Netflix might be the next Fortune 100 firm to add Bitcoin to its balance sheet.
The famed investor spoke at a new episode of the Unstoppable Podcast, stating that, following Tesla’s electric car maker, Netflix may be the next one to make an investment in BTC – digital gold.
According to Draper, Netflix co-founder and co-Chief Executive Officer Reed Hastings are making the firm a possible BTC investor. Draper sees Hastings as an innovative man with lots of imaginative thoughts.
Draper would, as a CFO of any big company, encourage it to devote a part of its cash reserves to digital coin. He sees BTC as a buffer against another currency turning into the currency of the future, and it’s also a hedge against inflation as policymakers keep printing more dollars.
Draper also stated that while Facebook and other big companies like Google and Apple were attempting to establish their proprietary centralized currencies, they were likely to make their network interoperable with crypto, considering Bitcoin’s popularity. Moreover, he thinks Amazon is likely to begin accepting BTC since Amazon customers have been utilizing cryptos on the retailer’s website for some time now.
This week, Amazon has made Ethereum accessible on its operated blockchain service.
In February, there were reports that Amazon was thinking about starting a form of a virtual currency project in Mexico that would allow customers to pay for products through virtual currencies. While the firm did not specify which virtual currencies it would endorse, there were talks that the firm company won’t utilize cryptos such as BTC or ETH.
Institutions at the Core of BTC Price Surge
Interest among companies in BTC is responsible for the cryptocurrency’s bull run. The cryptocurrency’s record-breaking rally seen recently is in part motivated by the entry of larger institutions into the marketplace.
BTC has fallen to $48,000 since surpassing the $50,000 barrier for several days recently. The virtual asset has been around since 2009, but it began to jump in popularity among mainstream institutions in 2020.
Last year’s cryptocurrency price resurgence was in part driven by famed Wall Street names such as Stanley Druckenmiller, and his endorsement pushed entities like Fidelity and PayPal to invest in digital gold as part of their corporate asset allocation plan.