Apple buys billions of dollars in Bitcoin? You think too much

The generation of rumors is not only the desire of the crypto community for traditional capital to enter the market, but also reveals the desire for positive stimulation in the “bear market.”

World of Coins-Apple buys billions of dollars in Bitcoin?  You think too much

Recently, a piece of news circulated in the Twitter crypto community: Apple (NASDAQ: AAPL) will soon announce a plan to buy billions of dollars in Bitcoin.

Is this rumor true? Let me talk about the conclusion first. The rumors are not reliable, and the official has not issued any announcements. This is just a Fake News (fake news).

Apple is going to take over Tesla’s big stick?

In February of this year, when Tesla (NASDAQ: TSLA) announced the purchase of US$1.5 billion in Bitcoin, BTC soared by more than 20% that day, and it rose to US$60,000 in the following two months.

The impact of the entry of traditional technology companies into encrypted finance can be seen from this. People expect that if Apple announces the purchase of Bitcoin, the same scenario can be repeated again.

At present, the rumor has gained a lot of fans on Twitter. The official Galaxy Trading account stated, “There are rumors that Apple has purchased more than 2 billion U.S. dollars in Bitcoin.” ChainLeak CEO Joshuwa Roomsburg increased the purchase amount to 2.5 billion U.S. dollars, and said: “If this happens, I I will buy the latest iPhone today. I will not use it, I will keep it as a souvenir because BTC will climb to 100,000 U.S. dollars. Imagine what will happen to ALTs (altcoins)!” 

Of course, there is also opposition to this rumor in the encryption community.

Ran Neuner, CEO of OnChain Capital, responded that he believes that Apple’s purchase of Bitcoin will not happen, at least not soon. Flappening, the founder of Banter Capital, believes that Apple’s probability of buying Bitcoin is negative.

DevOps engineer Alexander Ross pointed out that Apple has a very strong brand awareness and is unlikely to do anything controversial. He added that Bitcoin investment may only be a long-term plan for the company. “Apple will not do anything controversial. They are very brand-conscious. At this time, Bitcoin is not in line with its brand spirit. It is too rebellious for them, and people have many opportunities to use it against them. .”

Regarding whether Apple will buy Bitcoin, since there is no official announcement at present, it can be regarded as a rumor for the time being.

Where did the rumors come from?

Of course, the rumors themselves are not groundless. In fact, Apple’s previous related actions have shown its interest in cryptocurrency.

In late May of this year, Apple announced a business development manager position, responsible for handling “Alternative Payments” (Alternative Payments). One of the key requirements of this work is to have more than five years of experience working with alternative payment providers, including cryptocurrencies. “More than 5 years of work experience or working experience with alternative payment providers, such as digital wallets, BNPL, fast payment, cryptocurrency, etc.”

In addition, as early as 2019, Jennifer Bailey, the vice president of Apple Pay, said in an interview that Apple thinks cryptocurrency is interesting and they are watching it with interest.

According to the analysis of RBC Capital Markets analyst Mitch Steves, by implementing the cryptocurrency exchange function in the Apple Pay wallet, Apple can earn up to 40 billion U.S. dollars in revenue from cryptocurrencies. “Apple’s installed base is 1.5 billion. Even if we assume that only 200 million users will transact, this is 6.66 times larger than Square. Therefore, the potential revenue opportunity will exceed $40 billion per year (a 15% increase in revenue opportunity). Compared to producing cars, this is a safer game.”

However, as of now, apart from the above recruitment, Apple has not taken any further action on cryptocurrency. Relevant Apple executives did not release cryptocurrency-related information on social media as frequently as Musk. Therefore, the possibility of Apple accepting cryptocurrency payments in the short term, or even buying Bitcoins, is very slim.

The market is cold, and there is an urgent need to boost confidence

If we put the rumors of “Apple buying Bitcoin” from a larger perspective, it just reveals the dilemma that the current crypto market has entered a bear market.

In the bear market, we hope that traditional capital can enter the market, thus saving the sluggish market. In the last bear market, we exaggerated every “exploratory” action of all traditional capitals to be able to drive the crypto market to a new round of brilliance. The most famous case is Bakkt, an encrypted trading platform invested by ICE, the parent company of the New York Stock Exchange, which was once dubbed the title of “Bull Market Light”. But the final result is that the bull market did not come as expected.

Recently, with policies suppressing mining, Bitcoin has not been able to break through and rise, and panic in the market has begun to gradually spread. The most intuitive feeling is that all kinds of fake news are flying all over the sky. Among them, there are many leading companies and capital of “Porcelain”. “Apple buys Bitcoin” is one of them.

In addition, there are fake news claiming that the Israeli investment fund group invested 2.3 billion US dollars in bitcoins, and the American asset management company Lincoln Avenue Capital bought 1,000 bitcoins…

In the current sluggish market, this kind of fake news may be able to stimulate and soothe dry souls in the short term, but it is difficult to maintain after all. If the crypto market is to truly move towards the next bull market, it must attract traditional capital to enter through original innovation, rather than relying on pure imagination.

This article refers to multiple sources of information: https://bitcoinist.com/rumors-fly-that-apple-has-bought-2-5-billion-in-bitcoin/ , if reprinted, please indicate the source.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/apple-buys-billions-of-dollars-in-bitcoin-you-think-too-much/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

Like (0)
Donate Buy me a coffee Buy me a coffee
Previous 2021-07-13 05:39
Next 2021-07-13 05:41

Related articles