After being asked if he owns bitcoin or ethereum at The New York Times DealBook conference on Tuesday, Apple CEO Tim Cook stated that he does.
“Yes, I do.” In a taped conversation with Andrew Ross Sorkin, Cook said, “I think it’s appropriate to purchase it as part of a diversified portfolio.” “By the way, I’m not giving anyone investment advice.”
Cook stated that he had been examining bitcoin and had been interested in it “for a time.”
Cook, on the other hand, stated that his interest stemmed from a “personal standpoint,” dismissing rumors that Apple may accept cryptocurrency as payment in exchange for items.
Cook also ruled out the notion of Apple investing in bitcoin using corporate funds.
“I wouldn’t invest in cryptocurrency,” he said, “not because I wouldn’t invest my own money, but because I don’t believe people buy Apple shares to acquire exposure to cryptocurrency.”
Cook received 5 million shares of Apple stock in August, valued at $750 million at the time. By 2026, he will get additional awards for Apple stock, the number of which will be determined by the stock’s performance. He has stated that he intends to give away his whole fortune.
Bitcoin and ether reached new all-time highs early Tuesday.
Apple currently does not offer any cryptocurrency-related products or services. It allows crypto wallet apps on the iPhone App Store, but mining apps are not allowed.
Apple’s Wallet software now offers financial services such as contactless Apple Pay, peer-to-peer payments, and the Apple Card credit card.
Apple will be a long time before it introduces cryptocurrency products or services. In 2019, an Apple Pay executive stated that the business considered bitcoin as having “long-term promise.”
While Apple is looking into bitcoin technology, Cook said Tuesday that it is “not something we have immediate intentions to pursue.”
