Microstrategy’s CEO, Micheal Saylor, has claimed that the stock prices of tech giant Apple would be double if it held Bitcoin.
Apple’s CEO also mentioned that his company currently has no plans to purchase crypto or accept it as a payment medium despite his exposure to virtual assets.
Reacting to Tim Cook’s revelation, several prominent names took to Twitter to share their thoughts.
Apple shares have largely remained unmoved by the news at the opening of the markets today, with the current price of $150.75 holding steady.
Although plausible, the enormity of Apple — which was the first trillion-dollar company in the US— could make this a difficult feat to achieve.
Furthermore, it can be argued that doubling the market valuation may be feasible for smaller companies.
Over the past week, the daily net withdrawals from exchanges have risen to above 5,000 BTC, as highlighted in the chart.
Consequently, the aggregate BTC balance on exchanges has fallen to a multi-year low of 12.9% of its circulating supply.
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