Bitcoin News

Netflix may just be the next Fortune 100 company to buy Bitcoin (BTC) and Amazon will have to accept it, says billionaire Tim Draper.

In an appearance on the Unstoppable Podcast on Feb. 28, the serial investor and hodler forecast that out of all possible candidates, Netflix is his pick for putting BTC on its balance sheet.

Draper: Netflix “might be next big one to fall”

“You know who it might be? Netflix,” he said. 

“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.”

The prediction comes as telltale signs of institutional buy-ins continue to surface at current prices, with $48,000 seeing multiple large transactions at Coinbase Pro over the past week. Classic buyers MicroStrategy and Square both added to their positions.

Coinbase Pro outflows chart. Source: Ki Young Ju/ Twitter

Ever the optimist, Draper also considered that Amazon would add a direct Bitcoin payment option in future. 

“Amazon will probably start accepting Bitcoin pretty soon,” he said, noting that consumers have been able to buy products indirectly using cryptocurrency for many years.

Amazon added Ethereum availability to its Managed Blockchain this week.

BTC price beats weekly highs

Bitcoin itself meanwhile saw a change in fortunes on Wednesday, exiting the $40,000 corridor to hit highs of $51,800 — the most since Feb. 25. 

Taking traders by surprise, higher levels held at the time of writing, with BTC/USD circling $51,500.

BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview

“That went well,” popular trader Scott Melker summarized about overnight activity.

“Price broke out of both patterns, the local bull flag and descending channel. It is also currently trading above the 50% retracement level of the entire move, so holding above ~$50,600 would be very bullish. Let’s keep this momentum.”

Earlier, Cointelegraph had highlighted stagnation in the U.S. dollar as a catalyst for short-term gains.

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