BREAKDOWN: Will Apple Be the Next Fortune 500 to Buy Bitcoin?
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 9 February 2021
⏱️ 18 minutes
🧾️ Download transcript
Summary
A new analyst report from the Royal Bank of Canada thinks that with a small investment Apple could disrupt the crypto exchange space and pay for it by buying bitcoin.
This episode is sponsored by Nexo.io.
Today on the Brief:
- A shifting inflation narrative
- Reddit raises $250M and has a $6B valuation
- Castle Island Ventures announces $50M fund II
Our main discussion: Might Apple by the next company to dive into bitcoin?
In the wake of Tesla’s surprise $1.5 billion bitcoin purchase announcement, many are wondering which Fortune 500 will be next.
According to a new report from the Royal Bank of Canada - the country’s largest bank with more than C$800 billion in assets - the best candidate may be Apple.
In this episode, NLW breaks down:
- Why the RBC thinks Apple should build a crypto exchange
- How a BTC treasury purchase could fund it
- Why the crypto exchange space and the bitcoin treasury movement are both white-hot topics of discussion right now
-
Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.
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Transcript
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| 0:00.0 | There is literally no reason to think there won't be another company, Apple or not, and likely |
| 0:05.2 | sooner rather than later. The dynamic in particular that these RBC analysts identified |
| 0:11.0 | about the announcement increasing the price, one is true, but two, won't be true forever. |
| 0:17.6 | There's a small window of early adoption when it will be, and smart companies are going |
| 0:22.2 | to recognize that, and I bet there's a race right now to be the next one to announce. |
| 0:28.7 | Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and |
| 0:35.6 | the big picture power shifts remaking our world. |
| 0:39.5 | The breakdown is sponsored by nexo.io and produced and distributed by CoinDesk. |
| 0:46.1 | What's going on, guys? It is Tuesday, February 9th, and today we are talking about whether Apple |
| 0:52.9 | will be the next Fortune 500 to get involved in Bitcoin. |
| 0:58.0 | First up, however, let's do the brief. |
| 1:00.6 | First on the brief today, a shifting inflation narrative. |
| 1:04.8 | So what's going on? |
| 1:06.3 | A Bloomberg article was published today called Surging inflation may force Fed to resort to yield |
| 1:11.7 | curve control, the Federal Reserve is at risk of getting schooled in a classic adage. |
| 1:17.6 | Be careful what you wish for. So what's actually happening? Basically, the Fed has been saying |
| 1:23.8 | for over a year now that it actually wants to allow inflation to run hot. They change the |
| 1:29.8 | way they measure and think about inflation to actually have it be an aggregate and average |
| 1:34.9 | that they're targeting not any specific point. This could mean that we could see a wild swing |
| 1:40.3 | into inflation or at least more inflation than we've seen before the Fed actually wants |
| 1:45.2 | to do anything about it. |
| 1:46.9 | Well, it seems like the market is starting to price a little bit of this in. |
... |
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