- Michael Saylor urged Apple to buy Bitcoin, reigniting debate over corporate crypto strategy during a public exchange with Jim Cramer.
- Saylor’s company Strategy now holds nearly 570,000 BTC worth almost $60B, a journey highlighted in a recent Financial Times documentary.
- Apple is gradually opening up to crypto, now allowing external crypto payment links in iOS apps and supporting stablecoin payments via Apple Pay and Mesh.
Strategy’s executive chairman Michael Saylor has once again reasserted his ardent belief in Bitcoin, strongly urging technology mammoth Apple to buy some of the flagship decentralized finance (DeFi) asset in a social media exchange with CNBC’s Mad Money host Jim Cramer on June 10.
Indeed, Cramer posted about Apple’s buyback not working, stating his view that the company “can leave it to earn a lot or it can take some and integrate,” adding that it was “not a badge of dishonor.” In response, Saylor said that “Apple should buy Bitcoin.”
Michael Saylor’s wild Bitcoin ride
In May, the Financial Times dropped a movie about Saylor, called ‘Michael Saylor’s $40BN Bitcoin Bet.’ It reveals how he turned Strategy (originally named MicroStrategy) into a Bitcoin-holding powerhouse with nearly 570,000 bitcoins worth almost $60 billion.
As a reminder, Saylor began his Bitcoin journey in August 2020, when he diverted $250 million from the company’s treasury reserves to the maiden cryptocurrency. Soon afterward, it became a long-term strategy of accumulation, during which Strategy spent billions of dollars on BTC.
In late June, he shared charts showing MSTR outperforming BTC and tech stocks over three-month and one-year periods, arguing that buying Bitcoin, even at its all-time highs, still made sense based on long-term holding data. At the same time, he warned that institutional adoption might limit BTC access for individual investors.
Apple and Bitcoin
Meanwhile, Apple has been forced to allow crypto payment links in iOS apps. Specifically, a United States District Court court ruling ordered it to permit developers to link to non-fungible token (NFT), DeFi, and external crypto services on iPhones, as external payment options free of Apple’s fees.
Earlier, Cardano founder Charles Hoskinson opined that what he saw as increasing participation by tech companies like Apple in the crypto space could entice other large corporations into it. At the same time, he believes the price of Bitcoin 50 $250,000 by the end of 2025.
Stablecoin payments are already available on Apple Pay through the integration with Mesh, a global crypto payments network. Unveiled during a Token2049 event in Dubai, this capability has allowed Mesh-partnered merchants to accept crypto payments through Apple Pay without building their own crypto infrastructure.
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