Will Apple buy Bitcoin?

Apple has been publicly optimistic about cryptocurrency in the past. Back in 2019, Apple Pay vice president Jennifer Bailey said “we’re watching cryptocurrency” and that “We think it’s interesting. We think it has interesting long-term potential.”

Investing cash on hand

So Apple has been no doubt researching and planning on what do to with Bitcoin/crypto for some time. As far as Apple investing its own cash on hand, I think it’s a no-brainer. 1% of that would be $2 billion and would be an easy way to start. It probably wouldn’t alarm Wall Street/traditional investors being such a low percentage and with Tesla and Apple both investing in it, the moves would spur many more companies to do the same. The 1% mark would be in line with Apple’s financial M.O.

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I don’t think Apple is likely to put a large portion of its cash into Bitcoin in one move – like Michael Saylor might advocate. But it could put itself in position for huge gains if it moved say even 5 or 10% of its $207 billion in cash to Bitcoin. But with a history of being financially conservative, Apple may make a bigger initial bet on this next aspect of crypto…

Apple cryptocurrency exchange

I think the other side of Apple embracing Bitcoin will be integration with iOS. Major players like Square and PayPal already offer the ability to buy Bitcoin easily in their apps and Apple has been ramping up its financial offerings over the last couple of years.

Of course there’s been some good progress with Apple Pay adoption, but things have become more focused in the fintech space for the company with Apple Cash and Apple Card.

Apple offering the ability to buy and sell or better yet, also send and receive Bitcoin P2P right within iOS could be a game-changer.

iPhone as a crypto wallet

So far, Bitcoin has been a bit messy when it comes to the public understanding how it works and buying it. For beginners or small amounts, there’s the ease of buying through Cash App, PayPal, Robinhood, etc. Those apps allow you to buy BTC with USD. However, these apps, don’t offer a full cryptocurrency exchange like Coinbase and others where you can send and receive as well as buy and sell.

Accepting Bitcoin as payment

It will be interesting to see how Tesla does with its plans to allow customers to buy its electric vehicles and other products with Bitcoin. This is another major piece in more people adopting the cryptocurrency.

If Apple at some point lets its customers buy Apple products with Bitcoin, it could be a major factor in other companies following suit.

Apple and Bitcoin wrap-up

The future of Bitcoin and other cryptocurrencies are no doubt uncertain, but it’s clear that big businesses like Tesla and more are ready to test the waters to discover what the future of finance could and should look like.

I think all signs point to more companies jumping into Bitcoin following Tesla and Microstrategy’s moves and think Apple should be next as it has more upside potential than almost any other company in the world due to its ability to lean into this fintech revolution from multiple angles.