05.03.2024

A well-known investor told which large company can buy Bitcoin next

Billionaire and well-known cryptocurrency supporter Tim Draper has been a guest on the Unstoppable Podcast, which focuses on the digital asset industry. On the air of the next episode of the show, Draper announced that Netflix could become the next major investor in Bitcoin.

Currently, the two largest BTC holders of the company are MicroStrategy and Tesla. However, other giants are likely to join them soon.

There are still few cryptocurrency holders among large companies. The most famous of these is the business intelligence giant MicroStrategy, which builds mobile software. On Monday, the head of the company, Michael Sailor, spoke about the purchase of another portion of the cryptocurrency.

It was about 328 bitcoins for $ 15 million in cash with an average purchase price of $ 45,710.

MicroStrategy now has 90,859 BTC at its disposal at an average price of $ 24,063 per Bitcoin. This means that even at the current rate, they have already at least doubled their huge investment. Obviously, other giants from various industries will want to repeat the company’s success and join the cryptocurrency rally.

Which companies have Bitcoin

The discussion about the influx of another group of large investors into the crypto market began with a discussion of the fact that recently, bitcoins have continued to be withdrawn from the largest American cryptocurrency exchange Coinbase – and in large volumes. This usually indicates the conclusion of transactions for the purchase of cryptocurrency by serious investors.

And the next of them may well be Netflix, Draper is sure. Here is a line from an entrepreneur in which he shares his thoughts on what is happening. The replica is provided by Cointelegraph.

I think Netflix chairman Reed Hastings is a very innovative guy, he has a lot of creative thinking and still controls the reins of Netflix. Therefore, the company could very well be the next giant in the new industry.

This means that Tim has no insights into what is happening. He just expects that the personal qualities of one of the company’s leaders and the current situation in the world will lead exactly to the fact that Netflix will follow Tesla’s example. Recall that Elon Musk’s company invested $ 1.5 billion in Bitcoin in January, and the giant’s representatives spoke about this in early February. This provoked an active growth in the cryptocurrency rate, which ended with a new historical maximum in BTC.

Bitcoin trading chart

Bitcoin price chart with a coin accumulation zone by large investors amid coin outflow from Coinbase

At the same time, the billionaire predicts the addition of Bitcoin as a payment option to the Amazon system. And this does not seem like something supernatural, given the fact that last year the cryptocurrency was already integrated into PayPal. This also provoked a sharp increase in its value.

Here’s another quote from an investor.

Amazon is likely to start accepting cryptocurrencies very soon.

For clarity, here is the full version of the podcast. We recommend that you look if you want to more deeply navigate in what is happening. The issue was recorded in English.

So far, the price of Bitcoin is in the stage of consolidation, that is, strengthening at a lower level in comparison with the maximum. After reaching the current historical record, the value of BTC fell back to the level of 43 thousand dollars , after which it quickly rose above 50 thousand dollars , but was never able to gain a foothold there.

BTC is valued at $ 49,770 this morning, which is almost the same as a day ago. Here is a graph of the cryptocurrency rate for a week.

bitcoin chart rate

Bitcoin price chart for a week

Yet another well-known billionaire, Mark Cuban, sees a lot of long-term potential in Bitcoin – especially when compared to gold. Cuban also tried to convince the well-known gold supporter Peter Schiff, who said that large companies were «stupid» to invest in BTC. Here is his phrase to Peter.

Let me help you, Peter. There is as much hype around gold as there is around cryptocurrencies. Do we really need gold jewelry? Yes, you can make a ring out of gold. But Bitcoin and Ethereum are technologies that can turn their investors into bankers and provide an almost unlimited set of financial tools.

By the way, one trader, Sam Baker, managed to find useful applications for Schiff’s criticism. He developed an algorithm that buys Bitcoin every time Peter posts something negative about the cryptocurrency on his Twitter account. Result: the trading bot turned out to be very profitable, because the main supporter of gold criticizes BTC at the best times to buy it. At least while this scheme worked.

Bitcoin trading chart

The chart shows the timing of Schiff’s tweets and the subsequent sale of coins at a profit

We believe that Tim Draper’s prediction may well come true. So far, the growth stage of Bitcoin and other cryptocurrencies is only at the very beginning, which means that others will also want to use it to increase investments and transition to a new financial standard. Therefore, it remains only to wait for important announcements. As with Tesla, they will surely be unexpected and influential.

Leave a Reply

Your email address will not be published. Required fields are marked *