After the Tesla company made over $ 1.5 billion in Bitcoin in January, Canada’s largest bank Royal Bank of Canada (RBC) recent noted that Apple could be the next big business to buy Bitcoin. Analyst in the capital market division of bank mitch Steves predicts that Apple has always viewed the cryptocurrency as its next growth opportunity, not in electric cars, and implemented it a few years ago.
For the holding company in the reports – Apple, the next step might be to consider adding Bitcoin or another digital currency to its balance sheet, the bank said:
“This would send even more users to Apple Exchange and would likely further boost Bitcoin prices,” the bank wrote in its client note.
Steves also said that millions of people around the world are using Apple’s built-in wallets – which can turn into an application to accept, store and transfer electronic money. This was shown when Hyundai Motor Co. and Kia Motors Corp. says it is not in talks with Apple to develop self-driving cars, despite popular reports and rumors saying otherwise.