Executive Chairman of Strategy (MSTR) Michael Saylor proposed that the tech giant Apple immediately acquire Bitcoin (BTC) to address the poor performance of the Apple stock buyback program.
"Apple should buy Bitcoin," Saylor wrote on his X page, Tuesday (20/06).
The stock buyback program for Apple is intended to reduce the number of shares outstanding and return profit value to investors. However, the purchase of Apple shares last May worth $110 billion to the SEC did not provide a breath of fresh air for investors.
This is because Apple shares have decreased by 17% since the beginning of the year. Therefore, Saylor positively suggests that Apple buy Bitcoin as a way to store and increase its wealth.
In fact, financial expert Jim Cramer said that Apple's stock buyback is not going smoothly. Therefore, according to Cramer, Apple should invest that money in things that yield better profits.
In addition, Saylor's Strategy has acquired Bitcoin to the point where its ownership currently exceeds 582,000 with a profit of $61 million according to Bitcoin Treasuries, Monday (16/06).#Apple #BTC $BTC