Many investors have noticed with interest the recent increases in price across a range of projects in the market. Ethereum Classic (ETC) is one project that has seen recent gains, but with no significant news for the project seemingly driving the jump, many are looking beyond the project to a broader bear market rally. Bear […]
After Elon Musk’s Tesla decided to invest $1.5 billion into the digital asset, Bitcoin’s registered a new high above $44,000. Perhaps Tesla’s investment policy could further the asset’s narrative as an institutional product. Analysts suggest that tech giant Apple should follow Tesla’s path into Bitcoin.
The publicly traded US firm worth more than $2 trillion could single-handedly make US a global crypto leader, for up to two decades, said Mitch Steves, an analyst at RBC Dominion Securities.
The analyst thinks that Apple could “immediately gain market share and disrupt the industry,” if the company launches into the crypto exchange business. According to Steves, such a development could allow Apple to unlock a “multi-billion dollar opportunity with a few clicks.”
Steves calculated the scenario based on how Jack Dorsey’s Square earned over $1.6 billion in revenue from Bitcoin in the third quarter last year.
In comparison, as of January, Apple boasts an active user base made up of 1.65 billion devices, while Square has 30 million strong monthly active users.
In addition, the analyst found that Apple’s Wallet service made significantly contributes to the firm’s growth. According to analysts, Apple could earn about $40 billion every year from a wallet-based crypto exchange.
Recently, Dan Weiskopf, portfolio manager at Toroso Investments believed that the tech firm should take a closer look at Bitcoin especially as a hedge against inflation. He stated that $10-20 billion worth of BTC could give Apple more profits in the long term compared to “aggressively buying back stock.”
0:00 – Intro (Watch The Whole Video!)
1:50 – The Wealthy Are Jumping Into Bitcoin Reports Bloomberg
3:14 – Paul Tudor Jones Q3 investment letter regarding #bitcoin…
6:19 – $600 BILLION Could Move Into Bitcoin JP Morgan Reports
8:47 – Should I Take Out A Loan To Buy Crypto?
10:41 – RedFOX Labs Gains Notable Investor
11:38 – Defi News
12:17 – Raoul Pal Sees Cryptocurrencies Gathering ‘Trillions of Value’
**Note: My overall opinion is that the name of the game is to accumulate as much Bitcoin as possible. Alts are interesting but a lot more speculative. I use them to accumulate more Bitcoin.
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Most of my crypto portfolio is Bitcoin, but I hold many cryptocurrencies, possibly ones discussed in this video.
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