Venture capital investor, Billionaire Tim Draper has anticipated that Netflix could be the next corporate giant to invest in Bitcoin.
Tim Draper in this week’s episode of the Unstoppable Podcast has talked about various things from who could be the next big investor, his predictions for Bitcoin, his thoughts on institutional investment in Bitcoin, etc.
He says if he were handling the reigns of a big company, he would look at Bitcoin as a potential hedge against multiple things.
Why Netflix could be next?
On being asked for predictions on who could be the next, Draper vehemently told it could be the biggest streaming platform Netflix because he thinks, Netflix CEO Reed Hastings is the man who would go for it and make a bitcoin investment and get it on the company’s balance sheet.
“ 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 must be the next big one to fall”.
Further on the podcast, he speaks about the other corporate giants’ Google. Facebook, Apple, and Amazon. On what would be their take on decentralized finance and their view for digital currencies.
“ Google could do something but I think that all of them, Google and Facebook and Apple are all trying to create a currency that’s centralized, that’s theirs. and Amazon. Although Amazon will probably start accepting Bitcoin pretty soon”.
Draper is of the opinion that organizations would eventually have to join the Bitcoin bandwagon in order to fulfill their fiduciary responsibilities and have an idea of this new market’s pros and cons.
“ you know who else is going to have to do it is 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”.
Bitcoin’s potential to rise 100 fold.
In the Podcast Draper even predicts what could be next for Bitcoin’s growth. He is of the opinion that it is an obvious possibility for Bitcoin to skyrocket 100 fold its current market capitalization of $1 Trillion.
“The current currency holdings in fiat are about $100 Trillion and Bitcoin’s market cap is just reaching $1 trillion now, so there’s no reason it can’t go up 100- fold”.
Draper has always been a proponent of Bitcoin and his previous predictions that were dismissed as crazy have turned out to be true.
Following his prediction Bitcoin’s price which has been in correction phase, crossed the $50000 mark. It was staggering between $45000 – $50000 from quite some days now.
At the time of writing Bitcoin is trading at $52,357.21 with a market capitalization of $976.09 Billion.