According to RBC Capital Markets, Apple Inc should start some crypro projects.
RBC says, Apple Inc should create a sizable new market for growth if it were to develop its Apple Wallet into a crypto exchange. Due to the new investments in current economy, crypto markets are going to new target for companies too. According to the MicroStrategy's Conferance, public companies will able to buy coins directly in market. How MicroStrategy's Bitcoin Conference will Effect BTC Price ?
Tesla invested $1.5 billion in Bitcoin and indicated its interest in accepting the cryptocurrency as a form of payment Monday. That helped send Bitcoin prices up as much as 16%, cresting $44,000 and hitting a record. If Apple Inc will invest Bitcoin or another cryptocoin, same sharply increase may happen again.
Investment for the market;
Apple Wallet would be a great opportunity idea into the growing market. Crypto market increasing year by year. Apple Inc. already has a wellknown market value in techonolgy and software. Apple shares, up about 70% in the past year. This move can give a chance to up shares for long-term.
”The wallet initiative appears to be a clear multi-billion dollar opportunity for the firm (potential for well over $40 billion in annual revenue with limited R&D),” Steves wrote in a note to clients.
For RBC, the successes of the likes of Coinbase, Square, and PayPal shows the viability of the Bitcoin exchange platform model. Furthermore, the Apple bull stated that the company’s crypto exchange service would have little difficulty in securing significant market share given its proven track record in the area of online security. Apple another strong brand value is safety. If the Apple company can image its secure brand perception to the crypto market, it will make many users its own customers. According to the new customer increase, public investment are can increase market capital of Apple.
Resources:
https://www.bloomberg.com
https://www.investing.com
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