Rumor spreads of Apple buying Bitcoin, takes crypto Twitter by storm
- Bitcoin price remained largely unaffected, the digital asset continues to trade within a tight range
- Crypto Twitter is flooded with the news that Apple is buying over $2 billion worth of Bitcoin.
- BTC may be too controversial for the Apple brand, incoming purchases are unlikely.
Earlier today crypto Twitter exploded with the controversial rumor that Apple will announce its Bitcoin purchase. Such incidents contribute to the fear and uncertainty among traders of cryptocurrency exchanges. This incident however did not lead to a BTC price drop. Bitcoin price remained largely unaffected, the digital asset continues to trade within a tight range
Steve Wozniak recent comments on Bitcoin are likely to have sparked the conversation
Apple co-founder Steve Wozniak is not necessarily invested in Bitcoin. However, in one of his recent presentations at Talent Land Jalisco 2021, Wozniak equated Bitcoin with an amazing mathematical creation. This may have led crypto enthusiasts to believe that Apple is interested in adding BTC to their balance sheet.
What started out as a false announcement on Crypto Twitter reached millions of crypto enthusiasts. Cryptocurrency exchanges and influencers participated in the artistic take on fake news.
It’s interesting that in the past such an event would have sparked a debate in the crypto community and had an impact on Bitcoin price. The false announcement did rounds on several million Twitter feeds without eliciting fear of missing out among traders on cryptocurrency exchanges.
The tech giant is yet to respond to these headlines. The company has a history of steering clear of controversies on social media. The fact of the matter is that Apple has remained neutral on Bitcoin despite an increase in the number of institutions’ foraying into cryptocurrencies. It has been watching cryptocurrencies from the sidelines for years but has started looking for a prospective employee with experience in cryptocurrency payments.
The world’s largest company by market capitalization recently started a headhunt for a ‘Business Development Manager – Alternative Payments’ position, looking for someone with ‘5+ years experience working in or with alternative payment providers, such as digital wallets, BNPL, Fast Payments, cryptocurrency and etc’. This is another event that fed the rumor mills.
CEO Tim Cook may still be obsessed with making physical cash obsolete, but users cannot buy BTC directly through Apple Pay. It is possible through multisig crypto wallet BitPay. The major American company continues to watch ‘Bitcoin’ and has not confirmed any announcement of buying Bitcoin in the recent past.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
