Apple has $ 191 billion in cash. Are they invested in Bitcoin?
While MicroStrategy is putting money in BTC, the crypto community is considering about investments in Bitcoin by Apple or Microsoft that would like to protect their monetary profits.
What will be the next tech giant to invest in Bitcoin
A debate has begun in the crypto community concerning which next tech giant will invest in Bitcoin. After PayPal announced including Bitcoin, Ethereum, Litecoin and Bitcoin Cash into their crypto service, the BTC rally began. Institutional crypto adoption is at an all-time high.
MicroStrategy was the first S&P 500 giant to announce an investment in digital currency. The company has invested more than $ 400 million in BTC to protect its cash earnings. Since then, it has been estimated that it has made a profit of $ 100 million on BTC purchase , which exceeds the profit it has made from its activity over the past 3 years.
Personalities such as Max Keyser, the Winklevoss brothers, and Scott “the Wolf of all streets” Melker discussed the possibility that other companies would follow the MicroStrategy strategy. Among them, Apple and Microsoft are the leading candidates. According to a CNBC report, the technology company’s actual revenue is $ 191 billion.
Given the current economic Outlook, Keizer said Apple’s earnings are a ” melting ice cube.” This is due to us dollar inflation caused by Federal reserve measures. Macroeconomic experts such as former Morgan Stanley President for Asia, Stephen S. Roach, predicts a fall in the us currency to 35%.
Bitcoin developer Samson MoE and David Nage agreed with Keyser, and suggested that the Apple CEO invest at least 2% of the company’s cash income in Bitcoins. This will amount to more than $ 20 billion with a large purchase of BTC. One user replied to Keyser that giant companies make money “so fast because they don’t create value,” and they bet that Microsoft would enter the cryptocurrency market before Apple.
“The wolf of all streets” believes that at least 1% of Apple’s cash earnings will be enough for the company to follow the MicroStrategy bitcoin investment strategy. In addition, the trader added:
“Also, it may be a good time for the US to stop buying APPLE’s debt. Corporate socialism is too much today, even for companies that have the most money”.
BTC becomes valuable for corporations
The founders of the Gemini exchange, Cameron and Tyler Winklevoss, were optimistic about Bitcoin and hope that the cryptocurrency will reach a new record level before the end of 2020. AS for the purchase of MicroStrategy and Square, Cameron said:
“Bitcoin becomes an asset of the corporate Treasury. Michael Saylor and Jack Dorsey lead the movement. Soon they will be followed by many other companies and, ultimately, the Central banks. This is just the beginning.»
Saylor, CEO of MicroStrategy, recently revealed that he owns more than 17,000 BTC-a purchase he made before recommending it to his Corporation’s Board of Directors. In addition, yesterday he reported that MicroStrategy has started launching its own full-fledged bitcoin node, and this was noted by the crypto community.