104 days ago • Posted by Charles-Henry Monchau
Will Apple get into Bitcoin?
Some investors and industry leaders believe Apple will soon make a sizeable investment into Bitcoin. Indeed, MicroStrategy CEO Michael Saylor, former Goldman Sachs hedge fund manager Raoul Pal and Toroso Investments’ portfolio manager Dan Weiskopf are among the people who believe that Apple should invest a portion of its massive cash reserves in Bitcoin. Weiskopf laid out the case that an investment in Bitcoin between $10 billion and $20 billion would be more profitable in the long term than Apple’s plan of carrying on with “risky and expensive” stock buybacks. He said it would also be a prudent hedge against inflation. “I get that certain institutional shareholders might get twisted up by the purchase of Bitcoin, but we need to work through the math and the opportunity versus the stock buyback,” he wrote. With a market cap north of $2 trillion, Apple is the world’s most valuable company and has nearly $192 billion cash on hand, according to an earnings report released on October 29th - source: Coinbase