The Dollar Wrecking Ball: Why is a strong US dollar so dangerous?
The rising US dollar strength is starting to produce cracks across economies and markets.
We have only recently reported that the well-known Steve Wozniak, who called Bitcoin a "mathematical miracle," commented on the cryptocurrencies. Therefore, it is not very surprising that more and more different personalities are investing in cryptocurrencies, especially not in the technology industry. Elon Musk, for example, can certainly be included in this group of crypto enthusiasts, as well as large companies that moved part of their capital to cryptocurrencies - MicroStrategy, Tesla and Square.
Tim Cook, the current CEO of Apple, also commented on the topic of cryptocurrencies. In an interview at the New York Times, the DealBook Online Summit, he said Bitcoin and Ether are part of his private portfolio. However, he was careful to add that this was not investment advice. Still, he believes it is vice to have cryptocurrencies as part of a balanced and diversified portfolio. His decision for these investments allegedly came after examining cryptocurrencies, and Tim Cook finds the industry very interesting.
Of course, the fact that cryptocurrencies are part of the CEO's portfolio of the world's second-largest company does not mean that Apple itself is interested in digital assets. Cook made it clear that Apple does not plan to buy cryptocurrencies, as people who buy their stocks don't do so in order to enter the cryptocurrency market. He also did not confirm that the company planned to integrate cryptocurrencies and crypto-related services directly into its systems (as Samsung did, for example).
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It can be said that Apple has not been very friendly to cryptocurrencies in the past, and we have been able to see this, for example, when removing some crypto-related applications from the Apple App Store. Nevertheless, Apple could still be a massive catalyst for the adoption of cryptocurrencies in the future.
Apple has sold billions of its devices worldwide. A relatively simple upgrade could bring its users, for example, support for an e-wallet service that would be a part of their native operating system. There is also speculation about integrating cryptocurrencies into Apple Pay, which would make it easier to spend digital assets. Also, imagine the possibilities of creating a decentralized app store and the direct native connection of the iPhone wallet to platforms like Uniswap and others.
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Of course, there are only speculations now, but the idea of what similar steps would do with the adoption of cryptocurrencies in the world is certainly interesting. In addition, Tim Cook's latest statement and the growing interest in cryptocurrencies worldwide tell us that this notion may not be left unfulfilled. However, the fact that the leading representatives of the technological world are also investing in cryptocurrencies probably speaks for itself, and we are looking forward to the moment when Apple will also take steps in this direction.
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