Apple has been in the news lately for being a huge tech company that’s always innovating, but they just did something you might not expect: buying Bitcoin. Rumors are swirling about how much Apple actually spent on these new assets, and it’s reported to be over $2 billion USD total! This isn't the first time we've heard of companies investing into cryptocurrencies- many other giants like Tesla have begun dipping their toes as well.
Reportedly, Apple is making news by purchasing close to three percent worth or all world's bitcoins at an estimated price tag between $1-$3 billion dollars (reports vary).
The thirst for Bitcoin is unquenchable, with the need to know who has the most coins leading investors on a treasure hunt. Some of them have found it in MicroStrategy and Tesla, two giants in their respective industries that boast over $7 billion worth of BTC between just these two companies alone; they are followed by Galaxy Digital Holdings ($521 million), Voyager Digital ($389 million) and Square (255).
Apple is taking over the cryptocurrency space. One of its founders, Steve Wozniak, already has quite a Bitcoin fanboy reputation and it was just announced that Apple would be hiring someone to lead their "alternative payments partnerships" with experience in alternative payment providers including cryptocurrency.
Now there are rumors about an upcoming announcement from Apple concerning something involving Bitcoins worth billions of dollars! This rumor mill got heated up this week on Twitter as people discussed what may happen next for cryptocurrencies if indeed such a purchase occurred or will occur soon enough.
Rumors that #Apple have purchased more than $2B in #Bitcoin 😳
— GalaxyTrading🅡 (@GalaxyTraging) July 12, 2021
Cryptocurrency enthusiasts were skeptical of the news that Apple might be exploring Bitcoin. However, there has been no official comment from either party to confirm or deny this claim. Nonetheless, markets have not yet reacted in a significant way as it seems many traders are taking the reports with a pinch of salt - despite dips on Monday and Wednesday morning after some tweets about these rumors went out.
It should come as no surprise that the biggest public companies in terms of their Bitcoin holdings were MicroStrategy, Tesla, Galaxy Digital Holdings and Voyager Digital. With a combined total worth of 589 million dollars at time when this article was written these four hold more than any other company on earth! Only one dollar behind is Square with 255 million dollars to its name according to research done by Bitcointreasuries.org
If the alleged rumour is true then Apple would be the second-biggest company with a large number of Bitcoins on hand!
What do you think about these rumors on Apple? Let us know your thoughts in comment section below.
