Tim Draper tips Netflix as next corporate Bitcoin buyers

Draper also considered that Amazon would add a direct Bitcoin payment option in future

Serial investor Tim Draper said Netflix may be the next Fortune 100 company to buy Bitcoin and also added that he thinks Amazon would add a direct Bitcoin payment option in future. 

Speaking on The Unstoppable podcast on February 28, and commenting on Bitcoin investment, Draper said he thinks Netflix CEO 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.”

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

Amazon added Ethereum to its Managed Blockchain this week. Amazon Web Services, users now have the ability to “provision Ethereum nodes”, the firm said.

“In addition to DeFi applications, customers building analytical products such as smart contract monitoring tools and fraud detection software can also benefit from this scalable, highly available, and fully managed Ethereum service,” Amazon said.

At the same time, in a Twitter debate, billionaire entrepreneur and tv personality Mark Cuban said he backed cryptocurrencies claiming Bitcoin and Ether are empowering but gold is "dead”.

He warned stockbroker Peter Schiff, who has always been skeptical about Bitcoin, that gold "will die" as a store of value. 

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"Let me help Peter. Gold is hyped as much as Crypto. Do we really need gold jewellery? Gold can make you a ring," one of Cuban's tweets read.

Schiff counteracted by calling cryptocurrency a "malinvestment" and arguing that gold could back a digital currency in the future. 

“#Gold falling and #Bitcoin rising in the face of massive money printing doesn't mean Bitcoin has replaced gold as the preferred store of value. In reality, investors are not buying gold because they're not worried about #inflation. They're confident the Fed has it under control”, Schiff tweeted. 

Meanwhile, surprising traders, Bitcoin hit highs of $51,800 earlier, the highest it has been since February 25. As of 16:30GMT is stands at $51,327.

FURTHER READING: ETH technical analysis for March 1-7: the coin could rise to $1,600 this week

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