Apple could follow in Tesla’s footsteps and add Bitcoin to its balance sheet

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  • RBC Capital Markets, a global investment bank, has suggested to Apple that it buy Bitcoin.
  • Furthermore, the bank also stated that Apple should develop a cryptocurrency exchange.
  • The announcement comes right after Tesla bought $ 1.5 billion in BTC.

According to RBC Capital Markets, one of the largest investment banks in the world, Apple should study the possibility of investing in Bitcoin. Analyst Mitch Steves wrote a note to clients saying:

The wallet initiative appears to be a clear multi-billion dollar opportunity for the company (potential for more than $ 40 billion in annual revenue with limited R&D).

Steves was referring to the Apple Wallet and its potential to become a cryptocurrency exchange. In recent months, several large companies such as PayPal and Tesla have announced their support for Bitcoin by buying it, accepting it, or even allowing customers to trade it.

Tesla just invested $ 1.5 billion in Bitcoin this Monday, February 8, pushing the price of Bitcoin towards $ 45,000, which corresponds to a new all-time high. RBC believes that Apple can benefit significantly from building an exchange, but it could also simply look to buy the digital asset and add it to its balance sheet.

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