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Tim Cook personally invests in crypto but, Apple doesn't
Tim Cook, the CEO of trillion-dollar company Apple, revealed in his recent statement at the New York Times DealBook Online Summit that he personally invests in cryptocurrencies. Although, he further said that Apple has no plans of investing in cryptocurrencies.
Tim Cook intrigued by crypto for "a while"
Answering a question asked by DealBook's Andrew Ross Sorkin on whether he owned cryptocurrencies, Tim Cook said that "it's reasonable to own it as part of a diversified portfolio." However, he quickly followed his statement with a disclaiming, saying that what he said was not financial advice but rather an observation.While Tim Cook mentioned that he has been actively researching the crypto space and has been interested in it "for a while," the billionaire mentioned no plans of including crypto-related services into Apple's infrastructure. While nearly every other tech giant has shown their interest in cryptocurrencies, it seems that Apple is still speculating the performance of Bitcoin and looking out for regulations.
Apple doesn't hold Bitcoin
While Tesla started taking payments in Bitcoin in the month of May and bought $1.5 billion worth of cryptocurrency in its treasury, Apple is currently not involved with cryptocurrencies in any aspect. When asked about the matter, Tim Cook revealed that integration of crypto payments is "something we have immediate plans to do.""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," said Mr. Cook in his statement at the Summit.In addition to the above statement, the CEO of Apple added that there are a number of things that Apple is currently looking at. "Never say never," he added.
The unclear stance of the US government on cryptocurrencies and the imminent crypto bill is something that's troubling every major tech giant right now. While iOS App Store does support crypto wallets, mining is not allowed by Apple. However, back in the year 2019, an Apple Pay executive claimed that Apple sees long-term potential in cryptocurrencies.
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