Some of the biggest names in technology are increasingly investing in cryptocurrencies, and Apple CEO Tim Cook has revealed that he personally holds crypto assets.
In a recent interview, Apple CEO Tim Cook confirmed that he owns cryptocurrencies, joining other prominent executives who have acknowledged personal holdings. Cook emphasized that his crypto investments are strictly personal and not part of Apple’s corporate strategy.
Cook made the disclosure during a conversation with Andrew Ross Sorkin at the New York Times DealBook conference earlier this week. When asked whether he owned Bitcoin or Ether, Cook answered in the affirmative. He was careful to note, however, that he would not be buying crypto on behalf of Apple at this time.
Tim Cook of Apple reveals that he has personally invested in cryptocurrency. “I think it’s reasonable to own it as part of a diversified portfolio,” he said at the #DealBook Online Summit. https://t.co/xpahdlKfOe pic.twitter.com/CQpQgShu0x
— DealBook (@dealbook) November 9, 2021
Cook summarized his view on Twitter:
“I own cryptocurrency. I think it’s reasonable to own it as part of a diversified portfolio. I wouldn’t invest in crypto [for Apple], not because I wouldn’t invest my own money, but because I don’t think people buy Apple stock to get exposure to crypto.”
The Apple CEO also said the company has no immediate plans to accept cryptocurrency payments from customers. He added that Apple is looking into certain possibilities related to crypto, but he did not provide further details.
Earlier this year, Apple posted a job opening seeking a crypto expert to lead partnerships, indicating the company is monitoring developments in the space. Tim Cook joins other tech leaders who have acknowledged personal crypto holdings; for example, Elon Musk, CEO of Tesla and SpaceX, has previously stated he owns BTC, ETH and DOGE.
Cook’s remarks prompted discussion on Twitter, where MicroStrategy CEO Michael Saylor weighed in:
“If Apple added Bitcoin support to the iPhone and converted its cash to the Bitcoin Standard, it would be worth at least a trillion dollars for its shareholders.”
MicroStrategy currently holds more than $7 billion in Bitcoin, and Michael Saylor remains highly optimistic about the leading cryptocurrency.