Apple CEO Tim Cook owns and is interested in cryptocurrencies

Asked if he owned bitcoin or ethereum at the New York Times DealBook conference, Apple CEO Tim Cook said he did it as part of a “diversified portfolio.” CNBC reported. In a brief explanation, Cook also said he had not given anyone investment advice to do the same.

After a slow period in mid-2021, bitcoin and other cryptocurrencies are becoming stronger against the US dollar, with some even reaching all-time highs. When collected, cryptocurrencies have reached market capitalization of over three trillion dollars, close to the value of Apple and Tesla combined. While Tesla was open to accepting bitcoin as a payment method, Apple refrained from doing so.

The Cupertino-based company offers its customers financial services through its products such as Apple Pay, as well as its credit card. However, neither of them performs transactions with cryptocurrencies. While Apple allows crypto wallets in its App Store, it does not allow applications for digging cryptocurrencies, CNBC reported.

Cook said he was “interested” in cryptocurrency and had been researching it for some time. However, all this is done in his personal capacity and is unlikely to change the way Apple views cryptocurrencies.

Earlier this year, JPMorgan Chase compared bitcoin as an investment that could compete with gold and reached a peak of $ 146,000 in the long term. Last month, we announced that against the backdrop of rising bitcoin values, Tesla’s net worth also had grew by a billion dollars only because of the cryptocurrencies he owns. Although these numbers must have increased recently, Cook does not believe in using cryptocurrency as an investment to increase the value of his company. Cook was quite clear that buyers of Apple shares do not buy them to be exposed to cryptocurrency.

He also did not exclude crypto from Apple’s plans. Cook went on to say that the company was interested in the technology used to manage cryptocurrencies, but had no immediate plans to delve into it, CNBC reported.

Disclaimer: Some members of the IE team, including the editors of this article, have personally invested in a number of cryptocurrencies and stock markets. However, their views on private investment do not affect editorial content.

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