Apple’s Alleged $1.5 Billion XRP Buy: Truth or Total Fiction?

TL;DR

• The cryptocurrency community, apart from all of its positive sides, often publishes various predictions and makes big claims, many of which turn out to be completely false.
• A popular X user now claims that there are “strong rumors” Apple will announce a big crypto purchase today – and it’s XRP.

https://twitter.com/Cobb_XRPL/status/1965329266238959978?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank” rel=”nofollow noopener

The rumor was started from an account with over 45,000 followers on X, which is why we even considered publishing this, as it sounds just a tad far-fetched. Even Cobb, one of the most vocal XRP supporters on X, mocked these rumors, comparing them to ghosts.

Let’s look at this objectively. Apple has shown little to no interest in the cryptocurrency industry to date. In fact, it even had some iOS restrictions that used to ban in-app purchases involving any digital assets.

Yes, it did lift those earlier this year, and many industry participants thought it was a big bullish move. However, lifting restrictions that the competition did not have is nowhere near as significant as a move like spending billions of dollars to acquire a certain digital asset.

But, let’s say that the company has decided to pivot from its ‘ignore crypto’ strategy and wants to follow the example set by many smaller firms and start a digital asset reserve. Apple is not known for making bold, speculative, and unpredictable moves in the past decade or so – why would it choose XRP instead of BTC or even ETH?

Bitcoin has established itself as a trillion-dollar commodity and is even competing with Apple (losing, for now) in terms of largest global assets by market cap. It has been adopted by numerous companies, as well as a few governments. Even the US authorities are a lot more supportive during the current administration than in the past.

Anyway, these XRP rumors appear as nothing more than just that, for the moment at least, and we will be stunned if Apple indeed announces such massive acquisition… especially as early as today.

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