Apple needs to invest some of its huge cash reserves in bitcoin, Portfolio Manager Dan Weisskopf, Toroso Investments, told ETF think tank today.

The invitation to the senior ETF strategist follows in the footsteps of Michael Saylor, MicroStrategy CEO and former hedge fund manager Goldman Sachs, Raoul Pal, who predicted that Apple would make a major investment in Bitcoin in the coming years.

Sailor retweeted and approved a Weiskopf article commenting that the tech giant could see a $ 100 billion increase in market value by integrating Bitcoin with its products and adding them to its holdings.

Apple has a market value of $ 2 trillion and is the most valuable company in the world with nearly $ 192 billion in cash, according to its earnings report released Oct. 29.

Weisskopf explained that investing $ 10 billion to $ 20 billion in bitcoin will be more profitable in the long term than Apple’s plan to continue “risky and costly” share buybacks. He said that this would also be a strong hedge against inflation.

He wrote: “I understand that some institutional shareholders may get stuck buying bitcoins, but we have to work on the math and possibilities instead of buying back shares.”

“Whether you are looking at Bitcoin as a hedge against inflation, speculation, or an alternative asset class, it is a technological innovation that Apple is uniquely positioned to bring to its shareholders.”
Since it is so much larger in reach and market value than Bitcoin, Weisskopf argues that Apple can help Bitcoin reach its true level of regular adoption for the benefit of both.

“Apple has a unique opportunity to think outside the box. The company’s loyal ecosystem, technological expertise and financial strength means that the relatively small risks of digital technology can bring it in line with the most revolutionary technology trend since the Internet. ”
In addition, the price of BTC needs to rise by 545% – about $ 100,000 per BTC – to get close to Apple’s current market value of $ 2.03 trillion.

Source: CoinTelegraph