Apple, the world’s fourth-largest company by market value, should consider purchasing Bitcoin to counter the underwhelming results of its share repurchase program, according to MicroStrategy Executive Chairman Michael Saylor.
“Apple should buy Bitcoin,” Saylor wrote in a June 10 post on X, responding to criticism from financial commentator Jim Cramer.
Earlier that day, Cramer had expressed skepticism about Apple’s buyback strategy, stating: “The Apple buyback is not working right now. The company can leave it to earn a lot or it can take some and integrate. It is not a badge of dishonor. It just isn’t.”
Saylor, a longtime Bitcoin advocate, has previously argued that corporations should allocate treasury reserves to BTC as a hedge against inflation and currency devaluation. His suggestion comes as Apple’s stock performance remains stagnant despite its massive $110 billion buyback initiative.
In a May 2024 filing with the U.S. Securities and Exchange Commission (SEC), Apple unveiled a $110 billion stock repurchase plan—the largest in its history—designed to reduce outstanding shares and enhance shareholder returns. The tech giant’s buyback strategy reflects its confidence in long-term growth, even as critics question its immediate impact on the company’s stock performance.
While Apple’s massive $110 billion buyback program aims to boost shareholder value, the company’s stock has fallen more than 17% year-to-date. In stark contrast, Bitcoin has gained over 17% in the same period, according to TradingView data.
The divergence becomes even more striking over a longer timeframe. Over the past five years, Bitcoin has skyrocketed more than 1,000%, dwarfing Apple’s 137% share price increase during the same period. This performance gap has fueled arguments from Bitcoin advocates like Michael Saylor that tech giants should consider diversifying into cryptocurrency as part of their treasury management strategy.
Bitcoin Gains Momentum as More Corporations Worldwide Embrace It
The push for Apple to integrate Bitcoin is gaining momentum, mirroring a growing trend among companies to include the cryptocurrency in their financial portfolios. A notable recent example is GameStop, the US video game and consumer electronics retailer. On May 28, GameStop revealed its initial foray into Bitcoin, purchasing 4,710 BTC for approximately $513 million. This investment followed the company’s successful $1.3 billion convertible notes offering.
Leading the charge for Bitcoin adoption in Asia, Japanese investment firm Metaplanet became the world’s eighth-largest corporate Bitcoin holder on June 2nd. Following this, Metaplanet’s shares surged over 12% during Monday’s trading session. This impressive climb was fueled by the company’s announcement of its ambitious plan to raise $5.4 billion in capital, specifically earmarked for further Bitcoin acquisitions.
Meanwhile, in Europe, Paris-based cryptocurrency firm The Blockchain Group has also signaled significant moves in the Bitcoin space. As reported by Cointelegraph on Monday, the company intends to raise over $340 million to expand its Bitcoin treasury. This announcement comes just a week after The Blockchain Group acquired $68 million worth of Bitcoin, which boosted its total holdings to 1,471 Bitcoin, equivalent to over $154 million.
Spot Bitcoin exchange-traded funds (ETFs) have shown a strong recovery, ending a two-day period of sell-offs. According to data from Farside Investors, these ETFs collectively recorded over $386 million in net positive inflows on June 9th.
