Tesla has already bought bitcoin, is Apple next in line?


Bitcoin on Tuesday renewed all-time highs of about $ 48,300 on speculation that, following Tesla, more and more companies will consider the first cryptocurrency as an investment.

Experts are calling on tech giant Apple to follow Musk’s lead.

“Tesla’s $ 1.5 billion purchase of bitcoins was a trigger for speculators and investors. We see an increase in the use of BTC by businesses, which could be a new wave of acceptance of bitcoin as a means of payment, ”said the FxPro analyst team.

According to experts, Tesla has invested about 15% of its cash reserves in bitcoin. Apple could become the next major investor in bitcoin, according to RBC Capital Markets.

Apple could create a market of impressive size if it integrated the Apple Wallet with a cryptocurrency exchange, writes ttrcoin.

“The wallet initiative seems like an obvious multi-billion dollar opportunity for a firm with substantially more than $ 40 billion in annual revenue potential with limited research and development spending,” the bank notes.

Companies like Square, PayPal, and Coinbase have already tested the exchange model as a real line of business, and Apple will immediately grab market share if it decides to do so.

At the same time, if Apple buys bitcoins for $ 5 billion, that is, 20-25 days of its cash flow, then the BTC rate will increase by 10%, which will allow the company to fully recoup the project due to its potential profit.

Apple’s entry into the cryptocurrency trading market is a matter of time, according to RBC, as competitors have already announced similar projects.

Bitcoin could rise to $ 100,000 by the end of 2021 if other companies follow the lead of electric car maker Tesla, says Mike Novogratz, founder of the crypto bank Galaxy Digital.

Meanwhile, a former Goldman Sachs executive shut down purchases of Tesla shares following its Bitcoin investment. TSLA has always been a high-risk investment, but buying bitcoin for $ 1.5 billion makes it even more risky, he said.

If more and more companies, like Tesla, simultaneously view bitcoin as money and investment, it could create a self-sustaining spiral of BTC growth for months to come.

Market forecasts, analytics and stock news

Libertex [CPS] WW

xemarketsforex

xemarketsforex

MTP Procurement Management Procurement Bidding SRM Cost Optimization Team Management Cost Management SAP ERP Management Skills SAP ERP 1C Supply Control SAP / SRM SAP / R3 Analytical Thinking Working with Suppliers Result Oriented System Thinking Process Management Strategic Planning Project Management MsOffice Negotiations with company top officials Organization of procurement procedures Oil trading

Read Previous

The stock market will try to continue growing today

Read Next

The forecast for the Moscow Exchange index for today: 3450-3500 points