Crypto Whales Are Loading Up — Are You?
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When Apple Inc. (NASDAQ:AAPL) says it's sitting on $261.5 billion in cash, it isn't technically accurate as some of the holdings are in investible securities -- and not just parked in a savings account at a local bank.
In fact, Apple owns $52.6 billion worth of U.S. Treasury securities, $20.1 billion of which are short-term in nature and $31.35 in long-term marketable Treasury securities, according to a CNBC report. Even more interesting is the fact that Apple is the 23rd-largest holder of treasury in the world and the only company among the biggest 35 holders.
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Japan is still the largest holder of U.S. Treasury at $1.1113 trillion, followed by China at $1.1022 trillion. Ireland is a distant third at $295.8 billion, followed by Brazil and the Cayman Islands at $269.7 billion and $266.1 billion, respectively.
Fellow "FAANG" member Amazon.com, Inc. (NASDAQ:AMZN), owns just $5 billion in U.S. government or agency securities, CNBC added.
Meanwhile, as of just a few months ago, Apple owned $148 billion worth of corporate international debt, which makes it the world's biggest unofficial fixed-income mutual fund. Apple's international cash would be subject to a 35 percent tax rate if it were to repatriate foreign capital so instead Apple is investing in bonds with a three- to five-year duration.
It's not known what quality of bonds Apple chooses to invest in, but common logic would dictate it's allocated to higher-quality instruments that are at least AA-rated.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.