Apple rumored to be interested in cryptocurrencies

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Apple rumored to be interested in cryptocurrencies

It is unknown if the popular Apple company invested in Bitcoin as rumors continue to move around in the crypto space. But this is what we really know about the situation.

Did Apple really invest in Bitcoin?

The rumor of Apple investing about $2.5 billion worth of Bitcoin has been on the news for a few days now via Twitter, with several personalities in the cryptocurrency space spreading the rumor, including GalaxyTrading: 

Rumors have it that Apple has taken a bold step to significantly invest more than $2 billion. – GalaxyTrading; July 12, 2021.

The rumor continues to spread like wildfire no thanks to the CEO of ChainLeak; Joshua Roomsburg who had taken over the spread of the rumor. We must therefore be very careful with how we handle this sensitive rumor. 

According to several commentators, Apple is also very aware of its reputation; hence they are careful about the kind of information they release to the public.

Apple does not do anything that can bring controversies. They’re very conscious of their brand, and at this juncture, Bitcoin does not fit with its brand ethos. So I think it’s an inconsiderate move from them and one that gives the public the opportunity to come against them. – stated Alexander Ross; July 12, 2021.

Apple and Bitcoin: an evolving relationship?

This is not the first time the crypto-community has raised the alarm about Apple’s possible purchase of Bitcoin. The belief that the organization is interested in the belief has recruited an expert in blockchain last May. 

Generally, Apple is quite evasive in its love for crypto-assets. However, in 2019, their Vice president Jennifer Bailey confirmed that the organization viewed cryptocurrencies as an exciting project. Since then, no other substantial information was released from the company to confirm its strong interest in cryptocurrency. 

Without confirmation from Apple, this purchase of Bitcoin, therefore, remains a rumor at this stage. For some investors, this may be wishful thinking: Apple’s entry into the Bitcoin market would have a great effect and would almost certainly drive up the price of BTC.