Crypto News

Will Netflix soon buy bitcoin?

Markets have seen a major shift in conversations around Bitcoin lately. From ‘if to when,’ speculators now predict which company will be next one to add BTC to their balance sheet. Recently, billionaire Tim Draper said on the Unstoppable Podcast that Netflix might be the next big firm to buy the digital asset. 

With regard to the possibility of the product company’s decision to buy BTC, Draper said: 

You know who it might be? Netflix.

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.

At the same time, Draper thinks that Amazon will probably start accepting Bitcoin “pretty soon.” He noted that e-commerce giant’s consumers have been purchasing products via cryptocurrency, at least indirectly, for several years. Moreover, as of 2 February, Amazon Web Services (AWS) announced the availability of Ethereum on Amazon Managed Blockchain. 

Coincidentally, after Draper’s forecast, CEO of CryptoQuant, Ki Young Ju said that BTC whales were accumulating the asset. He believed that Bitcoin’s price is recovering at “the institutional buying level, 48k.” Most exchange outflows that went to custody wallets were at 48k price, he added. 

Whales accumulating $BTC.

They are making a lot of bear traps lately, but the price seems to recover the institutional buying level, 48k.

Looking at recent Coinbase outflows, most of the outflows that went to custody wallets were at 48k price.

Chart 👉

— Ki Young Ju 주기영 (@ki_young_ju) March 3, 2021

Draper’s prediction is similar to those of many others in the sector. Speaking about Tesla’s Bitcoin investment strategy, Daniel Ives, analyst at Wedbush Securities, thinks that other public companies are going to mirror the electric automaker’s Bitcoin investment strategy.

At press time, Bitcoin was trading above $51,000 with a 5.2% hike in price in the past 24 hours. 

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