A number of crypto stakeholders have suggested Apple, the iPhone maker, to spend money on Bitcoin.
In a Feb. 16 post on the social media platform X (previously Twitter), Shapeshift CEO and founder Erik Voorhees urged the technology company to quietly “buy several billion of BTC” and make the top crypto a payment method in its Apple Pay product.
He said this move would help the company “make a billion dollars instantly” and further drive the top crypto adoption.
Chen Fang, the chief operating officer of BitGo, suggested that integrating BTC into Apple Pay and Apple’s new Vision Pro headset would allow the company to “dominate metaverse payments.”
In 2021, Michael Saylor, the chairman of the largest corporate holder of BTC, MicroStrategy, said:
“If Apple were to add support for Bitcoin to the iPhone and convert their treasury to a Bitcoin Standard, it would be worth at least a trillion dollars to their shareholders.”
Over recent years, institutional enthusiasm for BTC has surged, culminating in the launch of numerous spot exchange-traded funds (ETFs). These ETFs represent a significant milestone, granting access to Bitcoin for a broader array of prominent financial institutions and funds.
Apple’s relationship with Bitcoin
Apple, the second-largest company by market capitalization, has a complex relationship with the emerging crypto sector.
The company previously hosted the Bitcoin whitepaper on its Mac computer systems for an prolonged period. On the identical time, Apple’s App Retailer has stringent policies regarding cryptocurrencies, ensuing within the transient removals of varied crypto-related functions like MetaMask, Coinbase Wallet, Belief Pockets, Damus, and others.
Despite these challenges, key figures within Apple have expressed positive sentiments towards crypto. Co-founder Steve Wozniak endorsed Bitcoin as a sound investment choice, revealing that he once made significant investments in the digital asset.
Similarly, Apple CEO Tim Cook mentioned his ownership of digital assets in 2021, emphasizing that it reflected his views rather than Apple’s official stance on cryptocurrencies.
