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News, rumors, and anything else that might affect how people feel about any specific coin have always had a very strong impact on crypto prices. Since cryptos have no real-world asset backing them up and giving them value, news and new developments have been pushing the prices up and down. However, rumors are also of extreme importance, even though there is no way of knowing whether they are true or false.
With that in mind, the recent rumor that has taken over crypto Twitter — that Apple may have bought billions of dollars worth of Bitcoin (BTC/USD) — might be the reason why Bitcoin is currently trading in the green. Now, all eyes are on the company, with the entire community expecting it to soon announce the purchase.
Apple supposedly entered with billions
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An interesting thing about this rumor is that it is being pushed by a lot of respected and influential entities, such as GalaxyTrading, which mentioned a specific figure of $2 billion. Meanwhile, ChainLeak’s CEO, Joshuwa Roomsburg, put the rumored amount higher, at $2.5 billion.
Rumor has it, #Apple will make an announcement today that they have purchased $2.5B in #Bitcoin
— Joshuwa Roomsburg 🌎⛓️ (@JoshRoomsburg) July 12, 2021
If that happens, I'll buy the latest #iPhone TODAY! I won't use it, I'll just keep it as a souvenir for when #BTC started it's climb to $100k. ⏳ Imagine what alts will do! pic.twitter.com/YyNWSUzz7V
He even said that he is ready to go ahead and buy the latest iPhone right away, to commemorate the move, should the rumors prove to be true. He also said that this might be the event that Bitcoin has been waiting for to start its climb towards $100,000 per coin.
What is the truth?
As mentioned, there are still no confirmations from the iPhone maker or its officials, and given Apple’s skepticism about Bitcoin from the past, this rumor might yet turn out to be nothing but that. Still, with Tesla buying $1.5 billion BTC this February, many hope that Apple will be the next to make such a massive purchase.
If this happens, it could push BTC back to $64k, and perhaps even higher up. Still, there are many who believe that it won’t happen, such as Ran Neuner, the CEO of OnChain Capital, and Alexander Ross, the engineer at DevOps. Ross pointed out that Apple is too brand-conscious to do something like that.
Apple dont do anything controversial. They’re very brand conscious. Bitcoin does not at this juncture fit with its brand ethos. I would love nothing more, but its too rebellious a move for them and too many opportunities for people to use it against them
— Alexander Ross (@AlexTheKid_84) July 12, 2021
With that said, Apple did post a job offer in May, saying that it is looking for a Business Development Manager dealing with ‘Alternative Payments,’ which is likely why so many people are firmly holding to the possibility that the rumor is true.