Is Apple Supporting The Cryptocurrency: Here’s What It Can Mean For Its Investors

After Tesla has retracted its statement that the electric vehicle company will no longer accept bitcoin for vehicle purchase owing to environmental reasons, Apple seems to have come in support of the cryptocurrency.

Now all the buzz around 'Apple' and 'cryptocurrency' emanates from the latest job posting by the iPhone company that has opened a position for 'Business Development Manager- Alternative Payment'. The job description for the role specifies that the candidate should be adept in cryptocurrency. Also, the profile mentions that the successful candidate would join the company's Apple Pay and the iPhone Wallet app development team.

Qualifications of the role stated; "5+ years experience working in or with alternative payment providers, such as digital wallets, BNPL, Fast Payments, cryptocurrency and etc." And, "We are looking for a candidate who is comfortable with ambiguity, enjoys thinking about edge cases and asking 'what is an alternative way of doing this'."

How would Apple's endorsement impact cryptocurrency valuations?

After Tesla supported bitcoin as a payment method, if Apple takes on to accept crypto payment methodology, there can be expected a steep surge in the value of cryptos as it did happen with bitcoin when Tesla accepted it for payment for the purchase of its electric vehicles. Now the effect can even be sharper as investors' faith in crypto as a payment mode shall increase and all of iOS users will be given a payment option of a cryptocurrency.

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