Apple Inc. (AAPL) Accepting Bitcoins Will Be a Game-changer: Matt Miller


If Apple Inc. (NASDAQ:AAPL) decides to accept bitcoins, it will radically change the notion people have of the digital currency and others like it, Matt Miller said in a recent discussion on Bloomberg.

Talking to Betty Liu, Miller said that a lot has been going on regarding bitcoins and that he has observed a changing perception of big corporations, big money, venture capital, and even government regulation about the digital currency. He added that even television news anchors do not seem to be as cynical about bitcoins as they used to be.

Apple, Bitcoins, Is Apple A Good Stock To Buy, Worldwide Developers Conference

Furthermore, he said that if Apple Inc. (NASDAQ:AAPL) decides to let apps that use bitcoins and other digital currencies into their ecosystem, adoption of digital currencies will change. He told Liu:

“If Apple allows coin-based and other bitcoin apps onto its ecosystem, that’s a huge thing for adoption because so many wealthy people, would-be investors in bitcoin, use Apple products. I personally got rid of my iPhone and got a Samsung because it was easier to use my wallet on an Android but many people are not willing to take that step.”

Miller continued by making an example of DISH Network Corp (NASDAQ:DISH) which announced Thursday last week that they will be accepting bitcoins as form of payment starting in the third quarter of the year. Miller said that the network has realized that using the digital currency is an easy way to get paid and decided to take the opportunity.

The comments from the Bloomberg reporter comes after Apple Inc. (NASDAQ:AAPL) opened the doors to bitcoin apps by unveiling a revision to their App Store Review Guidelines at the Worldwide Developers Conference. Section 11.17 reads:

“Apps may facilitate transmission of approved virtual currencies provided that they do so in compliance with all state and federal laws for the territories in which the app functions.”

Meanwhile, Miller also mentioned eBay Inc (NASDAQ:EBAY) CEO John Donahoe recently talking about bitcoins and being positive about the digital currency. In an interview with CNBC, Donahoe said that his company will likely look at bitcoins as it becomes more widely adopted.

Miller also added that big venture capital names are buying into bitcoins with $2 million and $88 million of venture capital money going into the bitcoin startup world in 2012 and 2013 respectively. Meanwhile, the discussion which can be seen in the video below also touched on the tax issue regarding bitcoins.

Investors in Apple Inc. (NASDAQ:AAPL) includes Jim Simons’ Renaissance Technologies which reported 821,362 shares in the company in the first quarter of 2014. Donald Chiboucis’ Columbus Circle Investors also reported 757,823 shares in the iPhone-maker with a valuation of about $406.75 million.


Disclosure: None

Suggested Reading:

The 5 Best States That Are Hiring

10 Jobs that May Exist in the Future