Apple vs Bitcoin: Expert Adam Back Offers Insights on Best Investment Choice
Apple’s stock has outperformed Bitcoin since the inception of Bitcoin futures in 2017, surprising some Bitcoin enthusiasts. Blockstream CEO Adam Back remains undeterred by this fact, emphasizing the importance of a long-term perspective and holding onto investments. The introduction of Bitcoin futures by major U.S. derivatives exchanges, CME and CBOE, in December 2017 was anticipated to boost Bitcoin’s institutional adoption but coincided with the peak of the 2016-2017 bull cycle, followed by a significant decline in 2018.
Japanese economist Yukio Noguchi suggested in 2018 that the introduction of Bitcoin futures may have contributed to the end of the Bitcoin bull market. However, as of September 2024, Bitcoin has seen a 202% increase in value since late 2017. In comparison, Apple’s stock has surged by 427% during the same period, showcasing remarkable growth driven by its successful service sector and innovative products like the iPhone, AirPods, and Apple Watch. Apple has also ventured into the VR/AR market with the Apple Vision Pro.
Apple’s market value regained the top position globally after briefly being surpassed by Nvidia earlier in the year amid the artificial intelligence (AI) trend. Apple has actively engaged in the AI sector, recently collaborating with industry leader OpenAI. Despite Bitcoin’s lackluster performance in 2024, with no clear bullish catalyst in sight, some analysts still believe the cryptocurrency could reach a price as high as $150,000 by the end of the year.
While Bitcoin struggles to regain momentum, Apple continues to thrive, setting a high bar for the cryptocurrency to catch up. Apple’s consistent growth and strategic market moves have solidified its position as a tech giant, leaving Bitcoin to face the challenge of competing in a rapidly evolving digital landscape.
