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Rumour: Is streaming service Netflix investing in bitcoin?

According to billionaire Tim Draper, Netflix is likely to be the next giant looking to help itself to the Bitcoin pie.

Will it soon be „Bitcoin and Chill“? Yes, at least according to investor and billionaire Tim Draper. So he predicted in a podcast on YouTube that the streaming service could be the next big company to succumb to the charms of bitcoin. However, before giving his tip, Draper first described the core characteristic that the future investor would Bitcoin Pro need to have. For example, an innovative CEO at the helm of the company is crucial for a Bitcoin entry, he said. So Draper initially tipped Mark Zuckerberg of Facebook, but then changed his mind and tipped Reed Hastings, the founder and CEO of Netflix.

I think Reed Hastings is a very innovative guy who does a lot of creative thinking. I think that he still holds the reins at Netflix. That’s why I say they’re going to be next.
Tim Draper in „The Unstoppable Podcast“

Draper also estimated a possible price cap for Bitcoin in the post, saying, „You know, foreign exchange holdings in US dollars are currently about 100 trillion. Bitcoin’s market cap only recently reached one trillion US dollars. So there’s no reason why it shouldn’t increase a hundredfold.“

Investment volume if Netflix goes all-in on Bitcoin

Whether Netflix will now go all-in on Bitcoin is unclear. In a thought experiment, BTC-ECHO calculated how many BTC major NASDAQ companies could buy into if they converted all their cash reserves into Bitcoin. Netflix is among the few crisis winners in the pandemic. Because of the global lockdown, many more users are spending their time on the streaming platform. Of course, Netflix is happy about this from a financial point of view. For example, the US company reported over 8.2 billion US dollars in cash reserves at the end of 2020. If the streaming service were to invest this cash completely in Bitcoin under current market conditions (BTC exchange rate of 50,600 US dollars and BTC in circulation of 18.62 million), Netflix would receive about 162,055 BTC. This would mean that the company would hold about 0.87 per cent of all Bitcoin worldwide.

On January 3, Bitcoin’s price hit a new all-time high.

Long-term and daily technical indicators remain bullish.

BTC is probably in wave 5 of a longer-term wave 3.

Bitcoin Future hit a new all-time high (ATH) on January 3, this time rising to $ 34,778.

While the trend has yet to show any considerable weakness, BTC has already reached a crucial fibonacci extension level. This would suggest that he is approaching a cap, if he hasn’t already reached it.

Bitcoin’s weekly close

The week of December 28 to January 4, the price of BTC rose significantly, creating a bullish candlestick at the magnitude of 25%. On January 3, BTC then hit a new all-time high at $ 34,778.

Despite its massive rise and the seemingly parabolic rally, there are no clear signs of weaknesses in technical indicators yet. This suggests that the trend is still on the rise.

Likewise, the daily chart is not showing any clear signs of weakness despite the relatively long January 3 top wick, resembling a shooting star candlestick. In addition, it can be seen that the volume has not been particularly high in the past two days.

That said, there is no bearish divergence and both the RSI and MACD are still rising indicating that the price of BTC may continue to rise.

The two hour chart is giving us the first signs of weakness, as the MACD has lost some of its strength, almost falling into negative territory. That said, the RSI has generated considerable hidden bullish divergence. This is normally considered to be a sign of continuity, after which one would expect another upward movement.

That said, there is no structure in place and no clear areas of support or resistance

The wave count suggests that BTC is very close to peaking, or ceiling, if it hasn’t already.

BTC appears to be in wave 5 (blue below) of cyclical wave 3 (white).

The 3.61 fibonacci extension of Cyclic Wave 1 (blank) is $ 35,037 and suggests that the BTC has already reached its peak. The next size Fibonacci resistance zone would be at 4.61, at $ 43,755.

Using the fibonacci extension over the length of waves 1 to 3 (in blue), we get very similar goals of $ 34,187 (already achieved) and $ 43,532.

Het business intelligence-bedrijf verhoogde zijn aandelenkoers na de aankondiging van een nieuw Bitcoin-fonds.

Business intelligence-bedrijf Greenpro heeft plannen aangekondigd om een ​​Bitcoin-investeringsfonds op te richten.

Het bedrijf is van plan om maar liefst $ 100 miljoen voor het fonds op te halen en ook zijn eigen geld te investeren.

Het plan lijkt op de eerdere Bitcoin-investering van MicroStrategy.

Greenpro Capital Corp. is van plan een Bitcoin- investeringsfonds op te richten, zoals aangekondigd in een vandaag gepubliceerd persbericht .

Bitcoin toegevoegd aan balansen

CK Lee, CEO van Greenpro, zegt dat het bedrijf „volledig gelooft in $ BTC als een waardeopslag“. Lee zegt dat hij de investeringsbankiers van het bedrijf heeft geïnstrueerd om schuldinstrumenten aan investeerders te verkopen om tot $ 100 miljoen op te halen voor de Bitcoin-investering. Hij voegt eraan toe dat het bedrijf zelf ook zijn eigen geld in Bitcoin Investor zal investeren.

De strategen van Greenpro zijn van mening dat Bitcoin en andere grote cryptocurrencies zoals Ethereum een grotere kans op prijsstijging hebben dan fiat valutaposities. Hij voegt eraan toe dat talloze banken, hedgefondsen, verzekeringsmaatschappijen en instellingen geïnteresseerd zijn in Bitcoin-investeringen.

Greenpro zal zijn investering doen via een dochteronderneming, CryptoSX.

De prijs van de aandelen van Greenpro (GNPR) steeg na de aankondiging met 103% naar een maximum van $ 2,60.

Andere zakelijke investeerders

In soortgelijk nieuws steeg de aandelenkoers van Marathon met meer dan 30% nadat het een deal van $ 170 miljoen had getekend met Bitcoin-mijnbouwhardwarefabrikant Bitmain. De grootste Noord-Amerikaanse mijnwerker zal tegen december 2021 70.000 S19-mijnwerkers toevoegen aan zijn bestaande boerderij van 33.000 eenheden.

Microstrategy blijft echter het belangrijkste beursgenoteerde bedrijf met een Bitcoin-investering. Het bedrijf investeerde vorig jaar $ 475 miljoen en haalde vorige maand nog eens $ 650 miljoen op via senior convertible notes, voor een totale Bitcoin-investering van meer dan $ 1 miljard .

De prijs van Bitcoin is sinds het begin van de maand 37% gestegen en 275% sinds het begin van de maand. Tijdens hyperactieve bullmarkten hebben de toewijzingen van aandelen aan Bitcoin als een krachtige katalysator voor een opleving gewerkt.

Bitcoin handelde op het moment van publicatie voor $ 27.100.

The weekend brings new records. Bitcoin on yesterday’s day went on to touch a new all-time high above $24,200.

It is a record that comes after a decidedly eventful weekend. The sum of the volumes recorded between Saturday and Sunday reached the peaks of the year. For a weekend with so many trades you have to go back to the second week of May. But in May, Bitcoin prices were attempting to recover the $10,000 mark for the first time since February. The number of Bitcoins traded was much higher than yesterday, but the current price is double that of May so trading is solid on the basis of price but not on the basis of the number of Bitcoins traded which are still very high given the weekend.

The new weekend records accompany the week of Christmas with a retracement by prices.

coin360 20201221
Source: COIN360.com
Just over 85% of cryptocurrencies are below par today. Today’s declines do not affect weekly performance, which in fact remains firmly above par.

The day continues to trade at very high volumes with yesterday’s volumes jumping 20%. In the last 24 hours, a total of more than $350 billion has been traded, one of the highest peaks since the beginning of the year.

Among the day’s best performers was Chillz (CHZ), which jumped 30%, followed at a distance by Dogecoin (DOGE), with another double-digit rise.

At the other end of the spectrum there are many negative signs, with Nexo (NEXO) and THORchain (RUNE) among the worst, both down 10%.

The rise in the last 48 hours reinforces the dominance of Bitcoin, which has risen more than 66% to its highest peak since June.

Ethereum fell sharply to below 11% for the first time since mid-November. Ripple was weak, slipping under 3.8%.

DeFiPUlse 20201221

DeFi hit its highest LTV peak yesterday reaching $16.7 billion.

Maker remains the leader with 2.7 billion, followed by WBTC which is getting closer thanks to strengthening Bitcoin prices, at 2.6 billion. This is the highest peak for this platform, which came close to 2.7 billion yesterday, while it now slips to 2.6 as BTC retraces. Compound did very well as it strengthened its third position by pulling away from Aave to 2.4 billion locked in the protocol.

BTC 20201221
Bitcoin chart by Tradingview
Bitcoin (BTC), after records the retracement
After celebrating yesterday albeit with unsatisfactory volumes the break of the previous high on Saturday, reaching $24,000, both records were not accompanied by an increase in volumes compared to the previous hours and this led by a prevalence of profit-taking that brought BTC prices back below $22,000 for the first time since last Thursday.

It is a retracement within a bullish context, the medium and short term trend remains in fact set to the upside. The first alarms to be considered in a short-term perspective would come only with a retracement of prices below $21,800.

ETH 20201221
Ethereum chart by Tradingview
Ethereum (ETH)
Ethereum over the weekend updated the highs of the last two and a half years, above $670, where profit-taking also prevailed for the queen of altcoins which brought ETH prices back to test the $600 mark, to be precise at $590.

The movement remains in a decidedly bullish context. The trend would only be scratched with a drop to $580. A movement above this level is an up and down of a bullish trend. In the medium term, the reference support is only 470-490 dollars.

Digital Central Bank Currencies (CBDC) will ensure the confidentiality of user data and prevent its transfer to commercial platforms, according to Michael Lee, a researcher at the Federal Reserve System (FRS).

Lee worked on the report with Rod Garrett, Professor of Economics at the University of California. They believe that when making digital payments over Bitcoin Champion, companies collect personal data from customers, while cash allows the latter to remain anonymous.

Payment platforms and large companies can use the information they receive for commercial purposes or to combat competitors, the authors of the report noted. Lee and Garrett saw the CBDC as a solution, calling them the „best successors“ of cash in terms of consumer protection.

According to the researchers, existing cryptov currencies are losing out to digital assets at central banks due to high transaction costs.

Deutsche Bank analysts called on European authorities to accelerate the development of CBDC. In their opinion, in the long term, digital currencies will replace cash.

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