Apple, the fourth largest company in the world by market capitalization, should purchase Bitcoin (BTC) to address the poor performance of its stock buyback program, according to Strategic Executive Chairman Michael Saylor.
“Apple should buy Bitcoin,” Saylor stated in a post on X on June 10.
Saylor's comments were in response to Jim Cramer's criticism of Apple's buyback plan.
“Apple's buyback plan is not working right now,” Cramer wrote in a post on X on June 10.
“The company can make a lot of money and also take some out for consolidation. It's not a sign of shame. It just isn't,” he added.
According to a filing submitted to the U.S. Securities and Exchange Commission (SEC) in May 2024, Apple announced an $110 billion stock buyback strategy aimed at reducing the number of shares outstanding and creating value for investors.
However, since the beginning of this year, Apple's stock price has fallen by more than 17%.
During the same period, Bitcoin has risen by over 17%, according to TradingView. Over the past five years, Bitcoin has surged by more than 1000%, while Apple's stock price has only increased by 137%.
As more companies add Bitcoin to their balance sheets, calls for Apple to adopt Bitcoin have grown.
On May 28, U.S. video game and consumer electronics retailer GameStop announced its first Bitcoin investment, acquiring 4,710 BTC worth approximately $513 million after launching a $1.3 billion convertible bond offering.
Japanese investment firm Metaplanet is leading the trend of Bitcoin adoption in Asia, becoming the eighth largest corporate holder of Bitcoin globally on June 2.
Metaplanet's stock price soared over 12% in Monday's trading after the company announced plans to raise $5.4 billion to purchase more Bitcoin.
In Europe, the cryptocurrency company The Blockchain Group in Paris announced plans to raise over $340 million for its Bitcoin reserves on Monday, Cointelegraph reported. A week prior to the announcement, the company acquired $68 million worth of Bitcoin, bringing its total holdings to 1,471 BTC, valued at over $154 million.
Meanwhile, according to Farside Investors, the spot Bitcoin exchange-traded fund recorded over $386 million in net positive inflows on June 9 after experiencing two days of sell-offs, marking a rebound.
Related: Bitcoin Coinbase premium indicator hits a four-month high, with 550,000 BTC flowing out of exchanges
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
