Netflix will soon be adding to the list of Fortune 500 companies to invest in Bitcoin (BTC) predicted by Tim Draper, the billionaire venture capitalist, in the latest episode of Unstoppable Podcast.
As per Draper, if he were running the corporate behemoth’s finances, he would be eyeing the digital asset as a potential hedge.
The Corporate Giant: Netflix
The entertainment giant Netflix CFO David Wells touched the subject of BTC in the Q&A session at an investor event earlier this month. In the new episode of Unstoppable Podcast, Draper said
“If I’m the CFO of one of those big organizations, I am saying ‘We have to own X % in Bitcoin’ because it’s a hedge against another currency becoming the currency of the future, and it’s also a hedge against inflation as governments keep printing more of their funny money dollars.”
He also addressed about the CEO of Netflix, Reed Hastings, saying:
“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 reigns at Netflix so I think that might be the next big one to fall.”
“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…”
Netflix Investment in Bitcoin
Draper pointed to the increasing number of organizations and their jump in the Bitcoin bull. He cited,
“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.”
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