There are rumors flying around social media that Apple may be planning to buy $1.5 billion worth of XRP, thus raising eyebrows.
According to one of several tweets alleging this planned purchase on 9 September, this could be one of the biggest mainstream crypto involvements ever.
Why it’s a big deal
Crypto has seen significant growth since its initial launch in 2009 starting with Bitcoin. There have been several adoptions, ranging from payments to retirement plans.
However, major mainstream companies like Apple have yet to openly identify with it. This could be either because they don’t yet believe in it or are careful to avoid criticism for identifying with the technology.
Either way, the company spending $1.5 billion to buy XRP will be a marked shift and could be the starting point for many other mainstream companies to follow suit.
Although Apple-linked company Santander already entered a partnership with Ripple to allow employees make payment seamlessly, Apple itself hasn’t been directly involved with the token.
Apart from encouraging other companies to enter the crypto space with more confidence, Apple’s involvement with XRP will also boost the confidence of retail investors and could significantly drive its value higher.
XRP stealing the show
XRP has been very popular recently, making the news for many reasons, both good and bad. This rumor of Apple buying some of the token however may have impacted its price.
In the last 24 hours, it has increased by 3.12% at the time of reporting this, and its price is just above $3.
This means if the company eventually buys $1.5 billion worth of the token, a much bigger impact may be seen in the price, which many investors have been looking forward to.
What do you think?
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