Tim Cook revealed today that he has a certain amount of cryptocurrency that he has invested in. In an interview at a New York Times event, Cook acknowledged that has been interested in it “for a long time”.
A reasonable investment within a diversified portfolio
At the DealBook event, promoted by the New York Times, Tim Cook said he himself has invested in cryptocurrencies. Without going into specifics on the specific currency that sparked his interest, the Apple CEO commented that Apple is “reviewing” cryptocurrencies, but no announcements are expected in the near term. Tim Cook commented that unlike Tesla, Apple is not considering investing in cryptocurrencies because he believes the company’s shareholders do not buy AAPL shares and then be exposed to the volatility of cryptocurrencies
Sork in:What do you think of cryptocurrency right now and its potential acceptance through Apple Pay or otherwise?
To cook: It is something that we see, it is not something that we have immediate plans to do. I would say there are things he wouldn’t do, like our cash balance. I wouldn’t go and invest this in cryptocurrencies not because I wouldn’t invest my own money in cryptocurrencies, but because I don’t think people buy Apple stocks to get exposure to the cryptocurrency. So if they want to do that, they invest directly in cryptocurrencies through other means. So I wouldn’t do that. I do not plan to accept cryptocurrencies for our products in the immediate future. There are other things that we are certainly looking at. “
Commenting in advance that he does not give any investment advice to anyone, Tim Cook admitted that he owns a cryptocurrency himself. Something that considered “reasonable within a diversified investment portfolio”
In line with cryptocurrencies and blockchain, Apple’s CEO also responded on NFTs. In this regard, Tim Cook explained that the concept sounds interesting to him, but that “There is not enough time for this to be of interest to society in general”.
It seems a bit early to take some action in the cryptocurrency market. The day when we can use Apple Pay to pay in Bitcoin in an Apple Store may still be a long way off, but it cannot be ruled out either. This is an important sector that is becoming more and more relevant, we will see what moves Apple takes in this regard.