Bitcoin news

Even Apple ready to buy Bitcoin?

After Tesla Motors which announced the purchase of Bitcoin, an interest from Apple seems to be on the horizon.

Yesterday, the Tesla Motors announced a high-value investment of BTC and plans to succeed in introducing the cryptocurrency for the foreseeable future. Now that Tesla has moved in this direction, some seem to speculate that Apple may also be the next institutional investor to choose. adopt the crypto-asset. 

The analyst of the Royal Bank of Canada Dominion Securities Paul Steves has published a report in which he suggests that Apple could also enter the world of cryptocurrencies, creating over 40 billion dollars in annual revenues, thus bringing about a stir in the sector.

The analyst made this prediction based on the profits that are generated by Bitcoin of the company Square which in Q3 of 2020 reached 1,6 billion dollars in revenue. Square has 30 million monthly active users, a small portion compared to Apple. In January, CEO Tim Cook revealed that the company has 1,65 billion active devices behind it.

For this reason according to Steves if Apple decides to enter the field of exchange of cryptocurrencies, the company would be able to generate and gain market share instantly revolutionizing the industry. Furthermore, this decision could help make the United States a leader in the cryptocurrency industry over the next 20 years. The company could practically unlock a billion dollar opportunity with a few clicks.

Tesla Motors yesterday announced the allocation of a portion of the budget to Bitcoin. Elon Musk's company is also considering introducing crypto payments for its cars. The arrival of a high profile name in the technology sector leads to a rise in BTC which are about to reach another all-time high, and which has given many in the cryptocurrency community hope to get a similar announcement from Apple as well.

Second Dan Weiskpf portfolio manager of Toroso Investments He pointed out that Apple's $ 10-20 billion investment in BTC would be more profitable over the long term than the aggressive share buyback. Furthermore, according to him, investing in cryptocurrencies could constitute a hedge against inflation. 

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Silvia Faenza

Graduated in Political Science and International Relations at the University of Salento, in the 2014. From 2015 he is in charge of content management for online companies and publishing agencies, mainly as a ghostwriter, copywriter and web editor.

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