The interest and demand in cryptocurrency continues to remain strong, so much so that according to RBC Capital Markets analyst Mitch Steves, in a note to investors as seen by Coindesk, Steves believes that Apple’s next financial gambit should be to invest and create their own cryptocurrency.According to the analyst, he believes that this could bring in a ton of revenue for the company, plus there will also be the added benefit of helping make the US the leader of cryptocurrencies for the next couple of decades. “Apple’s install base in 1.5B, and even if we assume only 200M users would transact, this is 6.66x larger than Square. Therefore, the potential revenue opportunity would be in excess of $40 billion a year (15% incremental top-line opportunity).”
The analyst goes on to state that while he believes that the rumored Apple Car could be a good long-term investment for the company, he claims that it carries a much higher risk as it would essentially see Apple try to compete against companies such as Tesla, who obviously have a lot more experience in that field.
That being said, one of the benefits of cryptocurrencies is that for the most part, a lot of it isn’t controlled or necessarily owned by a single entity like a government or a company. By having a company as big as Apple try to make their own cryptocurrency kind of defeats that purpose, but what do you think?
Filed in . Read more about Cryptocurrency. Source: appleinsider