Recently, Erik Voorhees, the founder and CEO of crypto trading platform ShapeShift explained to Apple, the world’s most valuable company with a market cap of over $2.8 trillion, why and how it should add support for Bitcoin.
The outspoken crypto entrepreneur behind ShapeShift made a bold proposal to Apple via social media media platform X on February 16. His strategy? Voorhees recommends Apple quietly accumulate Bitcoin, then integrate it into Apple Pay, predicting a swift billion-dollar gain in return. This tweet highlights Voorhees’ core belief in cryptocurrency’s transformative potential alongside his signature anti-establishment stance, implying Apple could cut out traditional consultants with this disruptive move.
Chen Fang, COO of crypto custodian BitGo, chimed in on Erik Voorhees’ bold Bitcoin strategy for Apple, adding a potential metaverse angle. Fang directly appeals to Apple CEO Tim Cook, suggesting integrating Bitcoin with Apple Pay and their spatial computing device, the Vision Pro, could position Apple as a leader in the emerging metaverse payment space.
In a November 2021 interview at the DealBook conference, Apple CEO Tim Cook revealed that he holds cryptocurrency in his personal investment portfolio. When asked by CNBC’s Andrew Ross Sorkin if he owns any Bitcoin or Ethereum, Cook replied:
“I do. I think it’s reasonable to own it as part of a diversified portfolio … I’m not giving anyone investment advice by the way.”
He noted that his interest in the space wasn’t new and that he had done research on the topic. However, Cook emphasized that this interest was purely from a personal standpoint. He dismissed any ideas of Apple using its corporate funds to invest in cryptocurrency or offering it as a payment method for products, suggesting that people buy Apple stock for reasons other than crypto exposure.
Michael Saylor, Co-Founder and Executive Chairman of MicroStrategy Inc., who is one of the most well-known Bitcoin advocates, responded to Tim Cook’s cryptocurrency interest with a bolder strategy.
Saylor believes that integrating Bitcoin support into iPhones and fully converting Apple’s treasury to a Bitcoin Standard would increase shareholder value by a staggering trillion dollars. Saylor’s statement reflects his staunch pro-Bitcoin stance and highlights the potential he sees for companies that fully embrace cryptocurrency.
Featured Image via Apple
