Crypto Twitter is flooded with rumors that Apple will soon announce a multibillion-dollar purchase of Bitcoin (BTC). For example, Galaxy Trading is one of the many individuals who talk about this rumor the most. They even say the number is more than $2 billion.
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ChainLeak’s CEO, Joshuwa Roomsburg, said the purchase price was $2.5 billion. Roomsburg added that if the rumor is true, it will buy an iPhone to celebrate the event.
But given Apple’s unsystematic history with Bitcoin and cryptocurrency, does this rumor have any grain of truth?
In early February, when Tesla announced that it had purchased $1.5 billion worth of BTC, BTC rose 20%. This event activated an uptrend that resulted in a price peak of $65,000. Expectations are that there will be a similar trend if Apple announces that it has purchased Bitcoin. But, truth be told, there is just as much nonsense as any tweet supporting the rumor.
Ran Neuner, CEO of OnChain Capital, responded by announcing that this won’t happen anytime soon, at least. In precedent form, @Flappening also points out that Apple is unlikely to buy Bitcoin.
To escalate the issue, DevOps Engineer Alexander Ross made the point that Apple has too much brand awareness and is unlikely to do anything controversial. He added that Bitcoin investment may be a very distant step for the company.
However, recent rumors strengthen the possibility that Apple is taking a pro-crypto stance. However, whether this includes an investment of 2.5 billion dollars is another issue.
Apple Shows Interest in Crypto With Jobs
In late May, he saw Apple posting a job for a Business Development Manager interested in “Alternative Payments.” One of the key requirements for the job was more than five years of experience working with alternative payment providers, including cryptocurrency:
In 2019, Apple Deputy Equity Leader Jennifer Bailey said that Apple thinks cryptocurrencies are interesting and they are watching with interest. However, apart from the latest job posting, Apple has not made any positive attacks on Bitcoin and cryptocurrency.
RBC Capital Markets Analyst Mitch Steves hypothesizes that Apple can generate up to $40 billion in profits from cryptocurrencies by implementing the cryptocurrency swap function in the Apple Share Wallet.
Steves said that this is a more confident leap forward compared to producing Apple cars.
On the other hand, Bitcoin did not give a random positive reaction to the rumors. BTC was trading at $32,900 at the time of writing.