Tim Cook, the CEO of Apple Inc, today revealed he owns cryptocurrencies in an interview with DealBook’s Andrew Ross Sorkin.
When asked whether he owns “any crypto, Bitcoin or Ethereum”, Cook responded “I do” and believes that “it’s reasonable to own it as part of a diversified portfolio”.
Cook then quickly added that his endorsement of cryptocurrencies was not “investment advice”.
Apple CEO Tim Cook just said he owns Bitcoin and Ethereum.
This shouldn’t surprise anyone that a technologist is interested in new technologies. pic.twitter.com/8vyxjPQST5
— Pomp 🌪 (@APompliano) November 9, 2021
When asked how long he has been interested in crypto, Cook went on to say that he has been “interested in it for a while” and that he has been “researching it”, suggesting that he takes an active interest in cryptocurrency markets and investments.
Cook then revealed Apple did not intend to incorporate crypto into its operations and follow the lead of other major tech giants like Tesla, Facebook and Twitter, saying that Apple had no plans to make cryptocurrencies an accepted method of payment anytime soon.
“It’s not something we have immediate plans to do,” he said.
Cook also said that Apple didn’t plan on buying Bitcoin (BTC) with its estimated $200bn cash reserves, saying “I don’t think people buy Apple stock to get exposure to crypto”.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.