Connect with us

Bitcoin

‘You’re a moron if you sell’ your Apple stocks and Bitcoin because…

Published

on

Bitcoin [BTC] chip miners to overthrow Bitmain as the dominant mining giant?
Source: Unsplash

Bitcoin, for a very long time, has been facing a lot of skepticism over the last decade. Ranging from its use in illegal transactions, energy concerns, price volatility, and the list goes on.  Many within the industry even compared the coin to a bubble about to burst.

According to a report by Crypto Parrot, a cryptocurrency trading simulator, Bitcoin reached $1 trillion twice as fast as Amazon and three times faster than Apple. Here’s an illustration for the same:

Source: Crypto Parrot

What’s one thing that is common between Bitcoin and Apple? MicroStrategy CEO Michael Saylor said it was the underlying need for these assets.

In a recent tweet, MicroStrategy CEO Michael Saylor stated:

“Apple was a dominant mobile network that everyone needed, no one could stop, and few understood. Bitcoin is a dominant monetary network that everyone needs, no one can stop, and few understand.”

Retweeting an old video that resurfaced on Twitter, Saylor reiterated his bullish narrative for Apple back when the iPhone 5 was released. Apple, 10 years ago, was valued at $300 billion whereas now its market cap is around $2 trillion. Quite the jump… Comparing Bitcoin to Apple, Microstrategy’s CEO retweeted an old video where he stated:

“I would be very long on that company, whoever is selling that stock must be a moron.”

Moving on, Saylor drew parallels to compare Bitcoin’s massive surge since the time of its inception, making references to early Apple growth and Bitcoin.

According to Bitcoin Treasuries, MicroStrategy holds the highest amount of Bitcoin on their balance sheet, around 91,326. Another famous venture capitalist recently published his top 10 most valuable companies on Reddit. It read:

Bitcoin ranked #1 while Apple took 10th place in Tim Draper’s list.

With all the buzz around the largest crypto token in the world, another question that will NOT die down is if Apple will adopt Bitcoin or cryptocurrency in any way?

VP of Apple Pay Jennifer Bailey in a previous interview spoke about the company’s interest in the crypto space.

“We’re watching cryptocurrency … We think it’s interesting. We think it has interesting long-term potential.”

Apple pay now supports bitcoin payments through BitPay integrated services and Coinbase card.

Where to Invest?

Subscribe to our newsletter

Shubham is a full-time journalist at AMBCrypto. A Master's graduate in Accounting and Finance, Shubham's writings mainly focus on crypto-regulations across the United States and Europe. Also, a die-hard Chelsea fan #KTBFFH.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *