Is Apple Buying Bitcoin? Following Tesla’s $1.5 billion investment, the industry urges the iPhone seller to purchase Bitcoin for the cryptocurrency market’s growth.
Following Tesla Inc’s $1.5 billion investment in Bitcoin, RBC Capital Markets urge Apple to invest in the top cryptocurrency. Apple is one of the most prominent players in the tech sector with smartphones, smartwatches, TVs, Apps, and several other services. If the Cupertino, California based multinational company ‘Apple’ buys Bitcoin, it could hugely help the market grow substantially. Several people across the globe are looking for this moment to occur.
Is Apple Buying Bitcoin?
The cryptocurrency space is evidently a continually increasing market, and companies such as Square Inc. and PayPal Holdings Inc. have previously validated the exchange model. Nonetheless, through Apple Wallet, the iPhone seller will soon lead the market through its capabilities. Additionally, Apple is well known for offering the best possible security and privacy services to its client. So Apple entering the cryptocurrency industry will be huge.
Stock Analyst Mitch Steves stated the Apple wallet initiative into crypto could create an opportunity for the company to generate over $40 billion in annual revenue. He also said that if Apple Wallet is developed into a crypto exchange platform, it will build substantial growth.
The bitcoin price rose to about 16% exceeding $44,000 and creating all-time high record following the Tesla’s investment in bitcoin.
We don’t know when Apple buys Bitcoin or any other digital currency; however, it will be directly proportional to increase the prices of Bitcoin. If Apple plans to invest in Bitcoin or make a cryptocurrency exchange, more and more people will start accepting bitcoin as a payment method. Apple hasn’t commented about the plan, and the question Is Apple buying Bitcoin remains unsolved.
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