Apple Rumored to Integrate Bitcoin Payments On iOS 18

Unconfirmed reports on X reveal that tech giant Apple could integrate Bitcoin payments into its new operating system, iOS 18. 

X user CarlBMenger created a depiction of how Apple could enable Bitcoin payments via the Lightning Network on iPhone devices. These payments would be made by two iPhone users bringing their phones together, mimicking the Tap to Pay feature. 

However, Apple has yet to announce plans for such a feature despite the iOS 18 version rolling out to the public on July 15. 

Bitcoin on Apple 

Apple is one of the largest tech companies globally. Therefore, if the company ever decides to bring Bitcoin on board, it could be a major turnaround. 

The iPhone maker has been big on enabling digital payments via Apple Pay and Tap to Pay. The latter is a feature that allows iPhone users to accept in-person and contactless payments with their phones. 

However, despite other tech and payment companies such as PayPal endorsing crypto, Apple has been left behind and has shown an unwillingness to embrace the technology. 

Last year, Twitter founder Jack Dorsey, who now runs crypto-native firm Block, questioned why Apple Pay does not support Bitcoin. 

Dorsey’s concerns at the time came after Damus, a Bitcoin-friendly social media platform, announced that it would likely be removed from the Apple App Store for failing to comply with its terms of service. 

The Damus social media platform allowed tips on the content paid for using Bitcoin. Apple threatened to kick out the platform from its app marketplace if it failed to use PAple Pay. 

Apple CEO, Tim Cook did not respond to Dorsey’s question. Moreover, the app marketplace is yet to accept crypto payments. Non-fungible token (NFT) marketplaces have often complained about Apple’s 30% “tax” on its App Store. 

Apple CEO Owns Crypto 

Despite Apple’s hard stance on crypto assets and the lack of Bitcoin payments so far, the company’s CEO has previously disclosed owning digital assets. 

While speaking to the New York Times in 2021, Cook notes that he owns Bitcoin and Ether. However, he noted that the allocation was for his personal investment, adding that he would not invest in crypto for Apple. 

At the time, Cook noted that the tech giant did not have any immediate plans to accept cryptocurrency payments. 

The CEO’s comments triggered discussions across Twitter. The CEO of MicroStrategy, Michael Saylor, noted that if the company were to add support for Bitcoin and have a Bitcoin Standard in its treasury, it would be worth over a trillion dollars. 

Source: Michael Saylor says Apple could gain $1T by adopting Bitcoin

US companies such as Tesla and MicroStrategy already hold Bitcoin in their balance sheet. Wall Street companies like BlackRock and Fidelity have also launched crypto offerings.