Feb 08, 2021 08:55 PM EST
There are rumors, supported by some quite substantial rumors that Apple might invest in Bitcoin. What happens if it does? What happens when all companies in S&P 500 invest too?
According to Zero Hedge, there seems to be clear signs that Apple might be investing in bitcoin.
Back in January, it was able to predict the supposedly "shocking" announcement made by Tesla just recently, in which Elon Musk's company decided to shift into the world of cryptocurrencies.
Elon Musk recently purchased $1.5 billion in bitcoin. This is no paltry sum, since it is already more than enough to to provide it with a tremendous advantage in non-GAAP financial when accounting for XBT Mark-to-Market moves. This means it will have even more buffer to beat estimates.
Included in its prediction is that once Musk made that decision and announcement, other companies, including will make the same move. It is now saying that there is a possibility that Apple will be the next, given
The initiating coverage report published by RBC on AAPL. In this report, analyst Mitch Steves explained why he believes that AAPL should focus on developing an "Apple Wallet" concept first instead of Apple car.
The report claimed that doing so will allow the company to leverage its 1.5 billion installed user base. The analyst is also calling a Coinbase-like Apple Exchange later which would accept bitcoin transactions because there is a high possibility that it will add about $50 billion in value.
Zero Hedge also took notice of the fact that the RBC analyst said, "should Apple purchase just $1 billion in bitcoin, or "4 days of cash flow", it would send even more users to "Apple Exchange."
Suppose Zero Hedge is correct, what are the implications? Will other S&P companies follow suit? What if they do?
Analyst Brian Kelly claimed that there is certainly a movement towards the trend of crypto going corporate, but it will be years and years away for bitcoin to become a transactional tool like normal currency.
Asked if there is a digital wave of cryptocurrency upcoming to push bitcoin off as the mainstream crypto, Brian Kelly told CNBC that it is not impossible but Bitcoin is certainly "the reserve asset" among them all if other cryptocurrencies emerge.
He added that even though there are rumors that bitcoin can even be better than gold and a lot more valuable, he does not want to make a grand assumption like that. Check out the full interview below.
What if every company in the S&P 500 followed Tesla’s lead in investing into Bitcoin? Brian Kelly joins the traders to talk about what may happen if crypto goes corporate. #bitcoin pic.twitter.com/DxWSeGViCV— CNBC's Fast Money (@CNBCFastMoney) February 8, 2021
Some were quite triggered by what he said about bitcoin being the main reserve currency one day and took to social media to react.
Others said that regulations can one day just crush cryptocurrencies like nothing if they no longer suit some political agenda. It remains to be seen what will happen to bitcoin down the road and if crypto can really go corporate.
Following the pandemic, natural calamities, and major employment shifts, a startling new study on the online news site News Nation shows that 1 in 4 Americans don't have an emergency fund.
Generational wealth is a facet of wealth management that is often misunderstood. Labeled trust fund babies, rich kids, and lucky breaks, those who receive an inheritance from families are rare.
Social media has successfully made it to the mainstream consciousness of over half the global population. DataReportal's latest study shows that over 4.33 billion people worldwide are using some form of social networking site this year. That's why it's no wonder many tech companies are interested in investing or forming the next Facebook, Twitter, or YouTube to capture the hearts and minds of the general population.
Ease of access, freedom to choose in which to invest the money and lines of credit designed according to the needs of consumers, are some of the characteristics that have made consumer credit one of the most important financing products in the world’s market.
While researchers have suggested that individuals who base their self-worth on their financial success often feel lonely in everyday life, a newly published study by the University at Buffalo and Harvard Business School has taken initial steps to better understand why this link exists.
The younger generations are willing to put their money where their mouth is when it comes to sustainable living.
An international research team led by NUST MISIS has developed a new iron-cobalt-nickel nanocomposite with tunable magnetic properties. The nanocomposite could be used to protect money and securities from counterfeiting. The study was published in Nanomaterials.
Bank credit officers are more likely to approve loan applications earlier and later in the day, while 'decision fatigue' around midday is associated with defaulting to the safer option of saying no.
After graduating or leaving college, many students face a difficult choice: Try to pay off their student loans as fast as possible to save on interest, or enroll in an income-based repayment plan, which offers affordable payments based on their income and forgives any balance remaining after 20 or 25 years.