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Apple May Launch Own Cryptocurrency

Interest in cryptocurrencies pushes analysts to speculate about their attractiveness. According to RBC Capital Markets analyst Mitch Steves, Apple’s next financial project should be the issue of its own digital money.

In recent months, the growth of bitcoin has been fueled not only by non-professional investors who create rush demand but also by Elon Musk . The billionaire does not seem to understand that this is a financial instrument, the fall in quotations of which can lead to huge monetary losses for ordinary people. Against the background of the increasing popularity in society of this topic, financial analyst at RBC Capital Markets Mitch Steves said that Apple should take advantage of all this by releasing its own cryptocurrency.

“Apple’s user base is 1.5 billion, and even if we assume that only 200 million users make transactions, that’s 6.66 times more than Square. Consequently, the potential income could exceed $ 40 billion per year, ”says Mitch.

The analyst believes that the Apple Car project may face a lot of obstacles because there are already mature companies like Tesla on the market that will be difficult to compete with. At the same time, digital money has no borders and will make the United States a leader in the field of cryptocurrencies for decades to come.

About the author

Prosenjit Dey

Prosenjit Dey

Prosenjit is the Founder & CEO at GadgetsFarms. His interest lies between Technology to Designing. He is a Blogger/Reviewer/Designer. If he is not active on Social Media, Either He is Studying or Sleeping!