• Using this method, Apple can enter the Bitcoin market

  • It’s no surprise that Michael Saylor is bullish about Bitcoin. Indeed, he has frequently stated that digital assets have the potential to alter payments and become “the future of property.” Saylor, on the other hand, took a step farther in a recent interview with Dan Weiskopf. Through Bitcoin, Saylor discussed Apple’s potential to become the “world’s biggest, most profitable bank in the history of mankind.”

    The Trio of Institutions, Technology, and Bitcoin: What We Might Need

    Giants in the tech and finance industries have invested in Bitcoin, realizing its untapped potential. However, only a few people are taking advantage of it and striving to further it. One of these is Saylor’s MicroStrategy, which has 105,084 Bitcoins on hand. Then there are tech behemoths like Tesla and Square Inc., who respectively hold 43,200 and 8,2027 bitcoins.

    Apple Park, dubbed “the apple of Silicon Valley,” has yet to make an official comment on investing in digital gold. Jennifer Bailey, Apple Pay Vice President, stated in 2019 that Apple was “monitoring cryptocurrencies” because “it’s exciting” and “has long-term promise.”

    Saylor, on the other hand, appears to have his own plan for how Apple can adopt Bitcoin.

    Saylor believes that in the future, large corporations with a lot of cash will be able to solve a variety of problems by purchasing Bitcoin.

    “[…] By incorporating Bitcoin into their applications, Apple, Google, and Facebook increase their bottom lines. If El Salvador, Cuba, Turkey, Japan, Russia, the United States, the United Kingdom, or France acquire Bitcoin, they balance their books.”

    He continued,

    “Every corporation on the planet fixes its balance sheet if it buys Bitcoin. As a result, Bitcoin is the answer for hundreds of thousands of people. And you’re not exposed to each of those entities if you don’t own it, right?”

    When we consider the crypto-adoption rate from this perspective, this is an intriguing prospect to consider. Crypto users worldwide nearly doubled from 100 million in January 2021 to 221 million in June 2021, according to a new analysis by Crypto.com. During this time, Bitcoin reached a high of $64,000 before plummeting. Meanwhile, altcoins have eaten into BTC and ETH’s market share.

    What is Bitcoin worth to Apple now that we know usage is increasing at an exponential rate? According to Saylor, the worth is $3 trillion. According to him, in the future, iCloud might work as a payment facilitator to transport this digital asset. He clarified,

    “Do you know what’s on the iCloud right now?” Videos, photographs, documents, and communications are all yours. What’s missing from the iCloud now? It’s your money. What happens when a hundred trillion dollars is sucked out of property from the twentieth century? What happens when 100 trillion dollars is sucked into digital property, which includes land, real estate, gold, bonds, and securities? It has to end up in the iCloud or the Android cloud equivalent, or on Facebook.”

    Saylor dubbed it “the next major chapter,” claiming that companies like Apple, Facebook, and Square may benefit from it. “Sell $10,000 in Bitcoin to 100 million people,” it can simply say. Furthermore,

    “If 100 million individuals have $10,000 in their iCloud accounts, you’ve just become the world’s largest and most profitable bank in human history, right?”

    Apple, on the other hand, has steered clear of cryptocurrency and Bitcoin. This might be owing to authorities’ actions when Facebook launched Diem, or the current battle between crypto-businesses and the SEC. If and when Apple decides to enter the crypto-world, it will be fascinating to see the battle heat up.

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