Dan Weiskopf, a portfolio manager from Toroso Investments, posted earlier today on the ETF Think Tank website. His post claimed that Apple should work towards investing some of its monstrous cash reserves into BTC.
The call from the lead ETF strategist of the site comes just after Michael Saylor, the CEO of MicroStrategy, and Raoul Pal, a former hedge fund manager from Goldman Sachs, made similar statements. They predicted that Bitcoin would start making large-scale investments into Bitcoin within the next few years.
Promises Of Apple Gaining $100B From BTC Investment
Saylor had promptly retweeted Wiskopf’s piece, endorsing it with promises of gain from the company should they do it. In Saylor’s tweet, he claimed the tech giant could make as much as $100 billion more in market cap should they just integrate Bitcoin with their products, adding it to their holdings, as well.
#Apple could generate $100 billion or more in shareholder value if they integrated #Bitcoin into Apple Pay, built a secure crypto wallet into the iPhone, and began buying #BTC with their Treasury Reserves. h/t @ETFProfessor https://t.co/zqDNuFskeY
— Michael Saylor (@michael_saylor) November 11, 2020
Apple already boasts a market cap above the $2 trillion mark, and stands as the most valuable company in the world. The tech giant boasts an on-hand cash supply of $192 billion, as stipulated by an earnings report it had published on the 29th of October, 2020.
Advocating BTC Over Stock Buybacks
In Weiskopf’s piece, the man claimed that Apple could gain more profit from investing anywhere between $10 billion and $20 billion in the long term. This comes in contrast to its current plan of stock buybacks, which Weiskopf has declared both expensive and risky. One of the key arguments was how prudent it would be to hedge against inflation.
Weiskopf gave understanding to these institutional shareholders getting all twisted up at the idea of buying Bitcoin. However, he further advocated that these shareholders need to do the math, and work out the opportunity of Bitcoin as opposed to stock buybacks.
Weiskopf stated that it didn’t matter that some see it as a speculation tool, an inflation hedge, or simply an alternative asset class. He highlighted that it indeed a technological innovation, one he believes Apple is uniquely equipped to access and provide to its respective shareholders.
A Unique Position To Push BTC To Mainstream
Weiskopf further argued Apple’s position to help Bitcoin overall to reach absolute mainstream adoption, highlighting how it boasts a higher market cap and reach than the cryptocurrency. This, Weiskopf stated, would benefit both sides, overall.
Weiskopf emphasized the unique opportunity Apple has to start thinking outside the box on this. The company boasts the technological expertise, loyal ecosystem, and financial risk to make a Bitcoin investment relatively small-risk. This could allow it to push into one of the most disruptive technologies to have come out, in Wieskopf’s opinion, since the Internet itself.