Is Apple Next?
Will Apple be the next big corporation to enter the Bitcoin arena?
With Tesla plowing about $1.5 billion into Bitcoin (BTC), attention is now shifting to determine which major U.S. tech giant may be the next in line with some commentary already pointing to Apple.
BTC is becoming a popular feature on the balance sheets of publicly-listed American companies, with many firms committing a significant portion of their equivalent cash balance to the largest cryptocurrency by market capitalization.
Apple Should Buy Bitcoin and Create Exchange Platform
According to a client note quoted by Bloomberg, RBC Capital Markets, RBC Capital Markets has urged the iPhone maker to create a Bitcoin exchange platform and also acquire some of the popular cryptocurrency. As part of the note to investors, RBC Capital Markets argued that such an investment move would be savvier than getting into the electric vehicle (EV) market, adding:
“The wallet initiative appears to be a clear multi-billion dollar opportunity for the firm (potential for well over $40 billion in annual revenue with limited R&D).”