Is #Apple about to buy 5 Billion worth of #Bitcoin soon

DISCLAIMER: EVENTHOUGH I TALK ABOUT CURRENCIES, CRYPTOCURRENCIES, TOKENS, PRECIOUS METALS, AND OTHER "MARKETS". I WANT TO STATE THAT I AM NOT A FINANCIAL ADVISER. THESE VIDEOS ARE BASED UPON MY OPINION ONLY. YOU ARE RESPONSIBLE FOR YOUR OWN TRADING AND INVESTMENT ACTIVITIES.

Conveniently, just as we were scratching out heads over this critical question - which also answers how Bitcoin will hit $100,000 next - RBC published an initiating coverage report on AAPL (with a street-high price target of $171), in which analyst Mitch Steves explained why he believes that AAPL should focus on developing an "Apple Wallet" concept first (and leave the Apple car for later), in order to leverage its 1.5 billion installed user base and to unveil a Coinbase-like Apple Exchange later which allows bitcoin transactions and which would add about $50 billion in value.

More importantly, the RBC analyst then says that should Apple purchase just $1 billion in bitcoin, or "4 days of cash flow", it would send even more users to "Apple Exchange". To be sure, in the aftermath of Tesla's announcement today, which validates the so-called "use case" and confirms that rising adoption of bitcoin among some of the most advanced companies is just a matter of time, such an outcome is even more likely.

Below we lay out some of the key highlights from Steves' note, in which he first discusses the "low risk, high reward" Apple Wallet opportunity...

When we think of the Apple Wallet, there is a clear opportunity in our view to create a buying and selling mechanism for crypto currencies (in addition to standard payment processing – although not necessary). To be clear, we do not believe Apple needs to hold bitcoin as a balance sheet asset (although it would likely help – more on this later), but rather allow users to buy and sell crypto assets.

Taking a big picture view of this, if we look at recent articles from The Block, which suggest Coinbase will be valued at ~$50B (at $200/share), this means Apple could potentially generate a similar or higher amount of value. Why? The firm already has a robust software ecosystem and install base to take significant and sudden market share from crypto currency exchanges (others include Binance, Kraken, and Gemini – all private companies but would be competitors in this situation). Looking at PayPal, for example, the firm now allows for buying and selling of crypto assets but does not allow for crypto assets to be sent off the system to a hardware wallet (individual custody). While many users/customers would not like this aspect, it has not stopped PayPal from generating additional revenue in a closed ecosystem.

In fact, if we think about a closed ecosystem, it removes the risk of the asset being removed from an exchange. According to Glassnode, exchange balances are falling and this would disrupt the exchange.

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