Apparently, Cryptocurrencies have set their own space as being the new asset class. Their stability and value have convinced the financial institutions and leading founders to make tectonic movements in their organizations and matters to adapt themselves to crypto. Governments have created new laws around it to protect its netizen’s interests and now the news is that Netflix may buy Bitcoin.
As CEO and Founder Jack Dorsey says, “Blind and Irrevocable trust” and Tesla founder Elon Musk who had just invested 1.5 Billion dollars in Bitcoin and started accepting bitcoin payments, calls Bitcoin “a bit better than holding conventional cash,” which goes to show how CEOs have started investing in cryptocurrencies.
On the same note, Tim Draper, the famous American venture capital investor who previously made some accurate predictions on bitcoin prices, thinks that Netflix CEO Reed Hastings will be the next in line to make some moves on Bitcoins. Draper, who is well known for his near to accurate predictions, stated bitcoin will surge to $250,000 by 2022, which was laughed upon by many but now we can see this to happen as prices are well over above $47,000. Tim made quite a fortune in Bitcoin himself, back when the prices were near to a hundred dollars, and as per his prediction, prices were to hit $10,000, which came true. Also, this coin’s strong potential as an asset class has steadily hit milestones over the years and, firmly, the Mt Gox. An Incident that saw a massive downfall of crypto prices by almost 30% and the substantial price recovery that Bitcoin made during that period made Tim realize the potential and future of Bitcoin as a decentralized mode of transaction.
Draper believes that many founders are looking to expand their portfolios into Bitcoin. Still, however, he also believes that organizations like Google and Facebook are looking to create their centralized cryptocurrency and revolve around that.
However, as experts say, there should no surprise if the prices of Bitcoin surges 100 times since the masses favor it as the new model of the transaction without the unnecessary interference of banking and financial institutions. Let us know your thoughts on the same.