by Rushali 
After Tesla’s news of buying $1.5 billion BTC, a Wall Street expert is predicting that Apple might benefit from entering into the crypto world.
Apple is the world’s largest traded public company with a market capitalization of $2.3 trillion.
According to a report from the brokerage firm RBC Capital Markets that Apple who already provides digital payment wallets to its customers and with the Covid 19 pandemic has increased the demand for digital payment, might be able to easily generate more than $40 billion from the cryptocurrency business.
Mitch Steves, the RBC analyst says that payments firm Square (SQ) generates about $1.6 billion per quarter in bitcoin-related revenue. Apple has an around 1.5 billion base and if 200 million user uses the crypto facility then it is approx 6 times bigger than SQ, then we can calculate the revenue.
The analyst also says that the competition in the crypto market is light, but the regulation in the US makes it difficult for the customers to deal in crypto.
Apple can solve this problem of consumers if it creates a closed system in which it only transfers the ownership of crypto between customers the analysts noted. The analyst also says that for raising money for the finance project they can also bet on bitcoins. They can pay for the project by adding BTC to its balance sheet.
By looking at the big companies entering in crypto business, we won’t be surprised if we see that Apple has also invested in BTC.
