It is impossible not to have heard of Bitcoin in the last few weeks. After a relatively quiet period following the explosion of Bitcoin’s price in 2018, the famous cryptomonnaie is back in the spotlight thanks to its arrival on Paypal, but also to Elon Musk’s tweets, as well as Tesla’s recent $1.5 billion investment in Bitcoin.
This recent infatuation has also prompted Jack Dorsey, the founder and CEO of Twitter, to launch a new project around Bitcoin in collaboration with the American rapper Jay-Z. Jack Dorsey who last October bought the equivalent of 50 million dollars in Bitcoin through his company Square. Lately, an announcement could considerably maintain this hype around Bitcoin. Indeed, the Cupertino-based firm has just announced that its payment service Apple Pay now authorizes payments in Bitcoin. More specifically, Apple Pay has announced the support of the BitPay payment card.
Apple Pay, and soon Google Pay
As a result, Apple Pay users will be able to use their BitPay card to make quick online payments with their Bitcoins. While iPhone owners are currently privileged, BitPay has also announced that a similar integration with Google Pay and Samsung Pay is planned by next March. Android users will therefore have to wait a few more weeks.
Following this, Apple should continue to invest in this direction by focusing more on cryptomoney. This is what RBC Capital Markets says in one of its recent reports. This same report estimates that the Cupertino-based firm could generate more than $40 billion just by setting up a platform for exchanging cryptomoney. In parallel with this cash inflow, Apple’s shares could also rise by 25%. It would therefore seem that Apple has many encouraging arguments to get a little more into this sector.