After it emerged that electric vehicle manufacturer Tesla (TSLA) invested heavily in the cryptocurrency Bitcoin, there has been a lot of speculation whether tech giant Apple (AAPL) is going to follow a similar course.
Hence, it is important to take a closer look at the developments and figure out if Apple is really going to turn some of its massive cash balance into Bitcoin. The company has a cash balance of as huge as $195.57 billion and hence even an investment in Bitcoin that matches Tesla’s $1.5 billion is not going to put much of a dent in it.
While nothing specific has emerged, Raoul Pai, who is a former Goldman Sachs executive, stated that within the next half a decade, companies like Microsoft and Apple among others are going to have some of their cash in the form of Bitcoin. While that may be plausible, there is another factor that needs to be kept in mind. Bitcoin and other cryptocurrencies are direct competitors of fiat currencies like the United States Dollar. Hence, if the price of Bitcoin continues to rise then it is going to be a blow to the company’s cash balances. Apple has largely stayed neutral with regards to its views on crypto.
Editor and Computer Expert
A hardcore tech enthusiast and computer expert Uson Abdilazhanov who holds a degree in communications started writing in his personal blogs since 2012. That time he was interested in the technical part of the computer. But now the software aspect plays an important role in his career. Currently, he runs a PC building and repairing shop which helps a lot of designers and gamers who always like to try new things.