Apple has not officially announced any plans to adopt Bitcoin or other cryptocurrencies, but there have been some speculations and rumors about the company’s interest in the crypto space. Here are some of the past comments and events related to Apple and Bitcoin:
- In 2014, Apple removed the popular Bitcoin wallet app Blockchain from its App Store, citing an unresolved issue. This sparked a backlash from the Bitcoin community, who accused Apple of being hostile to innovation and censorship-resistant money. Later that year, Apple updated its App Store Review Guidelines to allow apps that facilitate the transmission of approved virtual currencies.
- In 2019, Apple Pay vice president Jennifer Bailey said that the company was “watching cryptocurrency” and that it had "interesting long-term potential". She did not elaborate on what kind of potential Apple saw in crypto, but her comment was seen as a positive sign by some crypto enthusiasts.
- In 2020, Apple co-founder Steve Wozniak launched his own cryptocurrency called WOZX, which aims to support energy-efficient projects and reduce carbon footprint. Wozniak is no longer involved in Apple’s operations, but he remains a respected figure in the tech industry and a vocal supporter of Bitcoin.
- In 2021, a false rumor circulated on Twitter that Apple had bought $2.5 billion worth of Bitcoin, following Tesla’s announcement of its $1.5 billion investment in the cryptocurrency. The rumor was quickly debunked by several sources, including MacRumors, who pointed out that Apple had not made any official statement or filing about such a purchase.
- In 2021, RBC Capital Markets analysts suggested that Apple could create its own cryptocurrency exchange and integrate it with its Apple Wallet app, which could generate more than $40 billion in annual revenue for the company. They also argued that Apple could boost its stock price by 25% if it invested $1 billion of its cash reserves into Bitcoin, following Tesla’s example.
While Apple might not yet have embraced Bitcoin, its leaders have.
Despite these challenges, key figures within Apple have expressed positive sentiments towards crypto. Co-founder Steve Wozniak endorsed Bitcoin as a sound investment choice, revealing that he once made significant investments in the digital asset.
Similarly, Apple CEO Tim Cook mentioned his ownership of digital assets in 2021, emphasizing that it reflected his views rather than Apple’s official stance on cryptocurrencies.
Now that the Larry Finks of the world have finally opened up to Bitcoin, several cryptocurrency stakeholders have recommended that Apple, the manufacturer of the iPhone, should invest in Bitcoin.
Can they convince Apple?
Michael Saylor, the chairman of the largest corporate holder of BTC, MicroStrategy shared his comments about Apple and Bitcoin several times:
- In 2019, he stated that Bitcoin is “a million times better” than Apple stock, as it is a “high-tech dominant digital network growing at 40% or 50% a year,” while Apple is a “hardware company that sells things for money.”
- In 2020, he suggested that Apple should create a crypto wallet and exchange, which he believed would be a “bigger idea” than Apple TV.
- In 2021, he proposed that Apple could increase its stock price by 25% if it invested $1 billion of its cash reserves in Bitcoin, following Tesla’s example.
- In 2021, he refuted a false rumor that Apple had purchased $2.5 billion worth of Bitcoin, stating that it was “not true” and that he would have been aware of such a transaction.
- In 2021, he predicted that the approval of spot Bitcoin ETFs by the SEC would drive the price of Bitcoin higher, and he anticipated that Apple would be one of the first companies to offer such products to its customers.
- In 2021, he shared: “If Apple were to add support for Bitcoin to the iPhone and convert their treasury to a Bitcoin Standard, it would be worth at least a trillion dollars to their shareholders.”
Erik Voorhees, SHAPESHIFT CEO and founder, recently commented similarly about Apple's Bitcoin moment:
- In 2024, he urged Apple to buy Bitcoin and incorporate the leading cryptocurrency as a payment option in its Apple Pay product.
Impact on Bitcoin price.
If Apple were to enable Bitcoin payments for its products, it could potentially enhance the adoption and demand for Bitcoin, given Apple's extensive customer base and influence in the tech industry. This could, in turn, lead to an increase in the price of Bitcoin, as more individuals would be inclined to purchase and utilize it. Nonetheless, the magnitude of the price surge would hinge on the number of Apple customers who opt to transact with Bitcoin and the market's response to this development.
