Apple’s CEO Tim Cook Says He Has Personal Cryptocurrency Investments

The CEO of Apple, Tim Cook, has stated that he owns cryptocurrencies and has been interested in cryptocurrencies for a while now. Cook stated that his cryptocurrency holdings were a way of diversifying his portfolio.

Cook spoke at the DealBook Online Summit on November 9, where he responded to a query on whether he owns Bitcoin or Ethereum.

Tim Cook owns cryptocurrency

“I do. I think it’s reasonable to own it as a part of a diversified portfolio. I’m not giving anyone investment advice, by the way,”

Cook stated.

Cook also stated that he has been interested in cryptocurrencies for a while and has been taking time to research crypto investments. However, he stated that his personal investment decisions did not reflect on Apple’s investment stand. As such, he dismissed suggestions of Apple accepting crypto payments.

He also stated that Apple was not likely to add cryptocurrencies to its investment fund.

“I wouldn’t go invest in crypto, not because I wouldn’t invest my own money, but because I don’t think people buy Apple stock to get exposure to crypto.”

Apple does not offer any crypto products

The remarks by Cook of having crypto holdings have been met with much support from the crypto community. One of the people who reacted to Cook’s news of holding cryptocurrencies was Michael Saylor, the CEO of MicroStrategy.

“If Apple were to add support for Bitcoin to the iPhone and convert their treasury to a Bitcoin Standard, it would be worth at least a trillion dollars to their shareholders,”

Saylor tweeted.

Currently, Apple does not offer any crypto products and services. However, it allows the listing of crypto wallet apps on the iPhone iOS App store, but it bars mining apps from the platform.

Apple offers several financial services through its Wallet App such as contactless Apple Pay, peer-to-peer payments, and the Apple Card Credit card. However, none of these services allows cryptocurrencies.

The firm is also yet to make any major cryptocurrency investments; hence launching such services could take several years. In 2019, an executive with Apple had stated the company saw “long-term potential in crypto. Cook had also stated that Apple was looking into the technology behind cryptocurrencies, but any plans were yet to be developed.

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