So Is Apple Next To Buy Bitcoin???
Elon Musk just became the richest person in the world, with a net worth of more than $185 billion, according to CNBC calculations earlier this year. So what did the richest man in the world do yesterday, Tesla announced it has bought $1.5 billion worth of bitcoin? I was wonder where the money came from, then I recalled that as Tesla’s stock price skyrocketed in 2020, they sold shares as a mean to raise cash.
So why did Elon buy Bitcoin for Tesla...well a picture is worth a thousand words?
Tesla told the SEC that it bought Bitcoin to diversify, but also to maximize their return on cash. Tesla also said they will start accepting payments in bitcoin when purchasing a Tesla car.
https://www.youtube.com/watch?v=Zts6sUkVXmg
Video Source: https://www.youtube.com/c/CNBCtelevision/videos
So is Apple next to buy Bitcoin?
Apple Inc has a “clear opportunity” to offer a buying and selling mechanism for cryptocurrencies, a move that would allow the company to immediately gain market share, according to a research report on Monday from RBC Capital Markets.
Apple has proceeded cautiously with cryptocurrencies. The company banned cryptocurrency wallets from its App Store in 2014, but later reversed the decision and now allows them. However, Apple bans mining for cryptocurrencies on iPhones and does not allow its Apple Card credit card to be used to purchase cryptocurrencies.
Expect Apple to make some type of move along with 50% of the public companies that trade on the S&P 500 this year because Tesla just caused the epitome of FOMO on Wall Street.
Posted Using LeoFinance Beta
