Rumors circle around that Apple purchased $2.5 billion in Bitcoin after crypto Twitter exploded that the company will soon announce the news as we can see more in today’s Bitcoin news.
Galaxy Trading is one of those that push the rumor as they say the figure is more than $2 billion. Whereas the CEO of ChainLeak, Joshua Roomsburg put the rumor purchase amount $2.5 billion as he added if the rumor is true, he will buy an iPhone to commemorate the occasion. When Tesla announced it had purchased $1.5 billion in Bitcoin, BTC increased 20% on the day, and this event set in motion a bullish trend that topped out in April with a high of the $65,000 price range.
— Joshuwa Roomsburg 🌎⛓️ (@JoshRoomsburg) July 12, 2021
Expectations are that a similar trend will occur if Apple reveals it also purchased BTC. But if that is true, for every tweet endorsing the rumor, there are many rubbishing it. The CEO of OnChain Capital, Ran Neuner, responded by declaring it will not happen anytime soon:
“if negative probabilities were a thing, that’s what I would give to the chances of Apple buying 2.5 billion worth of #bitcoin.”
Escalating the case against DevOps Engineer Alexander Ross raised the point that Apple is way too conscious and unlikely to do anything controversial and added that BTC investing could be a too far of a step for the firm:
“Apple dont do anything controversial. They’re very brand conscious. Bitcoin does not at this juncture fit with its brand ethos. I would love nothing more, but its too rebellious a move for them and too many opportunities for people to use it against them.”
— GalaxyTrading🅡 (@GalaxyTraging) July 12, 2021
Despite that, rumors circle that Apple is going pro-crypto. But whether that extends to a $2.5 billion investment is another matter. Apple even posted a job for Business Development Manager dealing with the “Alternative Payments” and one of the key requirements for the job is over five years of experience working with other payment providers including crypto:
“5+ years experience working in or with alternative payment providers, such as digital wallets, BNPL, Fast Payments, cryptocurrency and etc..“
Back in 2019, the Vice President of Apple Pay Jennifer Bailey said that Apple believes crypto is interesting and they will watch it with interest. Other than the recent job posting, Apple has failed to make any moves to BTC and crypto. RBC Capital Markets Analyst Mitch Steves believes that Apple could generate more than $40 billion from crypto:
“Apple’s install base in 1.5B, and even if we assume only 200M users would transact, this is 6.66x larger than Square. Therefore, the potential revenue opportunity would be in excess of $40 billion a year (15% incremental top-line opportunity).”
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