Apple Reportedly Buys $ 2.5 Billion Worth Of Bitcoin

Crypto-Twitter exploded when Apple announced it would soon buy bitcoin for billions of dollars. Galaxy Trading, for example, is one of many spreading this rumor. They say it’s worth more than $ 2 billion.

# Apple reportedly buys more than $ 2 billion in # bitcoin

– Galaxitrading🅡 (@Galaxitrading), July 12, 2021

ChainLeak chief executive Joshuwa Rumsburg estimates the estimated buyout amount at $ 2.5 billion. He added that if the rumours were true, he would buy an iPhone to commemorate the event.

# Apple is rumored to announce today that they have bought $ 2.5 billion in # bitcoin

If that happens, I’ll buy the latest # iPhone today! I’m not going to use it, I’m just going to keep it as a souvenir because when # BTC starts to rise to $ 100k. imagine what alts alts will do!

– Joshuwa Rumsburg 🌎 ⛓ ️ (@Joshroomsburg), July 12, 2021

But given Apple’s fragmented history with bitcoin and cryptocurrency, is there any truth to this rumor?

Is Bitcoin Too Controversial For Apple?
When Tesla announced in early February that it had bought $ 1.5 billion worth of bitcoin, BTC was up 20% on the same day. The event set off an upward trend that ended with a price peak of $ 65,000 in mid-April.

A similar trend is expected to occur if Apple also shows it is buying bitcoin. But to be honest, every Tweet that confirms the rumor comes in the same amount as it does.

Ran Neuner, chief executive of Onchain Capital, has made it clear that this will not happen, at least anytime soon. Similarly, @ Flappening playfully puts the odds of Apple buying bitcoin at minus.

“if the negative rates were anything to go by, I would give Apple a chance to buy a $ 2.5 billion bitcoin.”

DevOps Engineer Alexander Ross, who opposed the lawsuit, noted that Apple is very knowledgeable about the brand and is unlikely to do anything controversial. He added that investing in bitcoin could be a step too far

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