According to CoinMeta, billionaire Bill Ackman believes that Netflix (NFLX) will still rebound despite a slowdown trend. In a letter to investors, he revealed that he has purchased shares of Netflix. Over the past year, the stock has fallen by about 35%, and so far this year it has dropped by 15%. Ackman stated that Netflix has won the streaming war, with over 325 million subscribers, which is nearly twice the total number of subscribers of its two main competitors. He believes that the stock has become cheaper after its price-to-earnings ratio fell from over 40 times to around 21 times, mainly due to the failed acquisition attempt by Warner Bros. Discovery and concerns about slower growth. Although revenue growth has slowed to Netflix's projected 12%, Ackman thinks that Netflix has a stronger ability to monetize. Advertising revenue doubled last year, and Netflix has launched its own advertising suite, which is expected to attract families with limited budgets. Ackman pointed out that Netflix is capable of "outperforming" its competitors by investing in more high-quality content. Despite competitive pressures, Ackman is optimistic about the future of Netflix.