Apple CEO Tim Cook owns cryptocurrency as part of a “diversified portfolio”

Apple CEO Tim Cook discussed several topics related to his company and the technology industry at the New York Times DealBook summit, including sideloading, future products, and the fact that he has personally invested in cryptocurrency.

Apple - Tim Cook

Tim Cook says Apple has no plans on investing in cryptocurrency 

In a broad interview with New York Times‘ Aaron Ross Sorkin, Cook was questioned on privacy, sideloading, and more. When asked if he owns any cryptocurrency, Cook replied, “I do,” adding that “it’s reasonable to own it as a part of a diversified portfolio. I’m not giving anybody investment advice, by the way.” The CEO also revealed that he is interested in Bitcoin from a “personal point of view.”

However, Cook shot down the possibility of the Cupertino tech giant accepting cryptocurrency as payment for its product, within Apple Pay, or the company buying Bitcoin as a corporate investment any time soon. “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,” Cook said, “So if they want to do that, they can you know, invest directly in crypto through other means.”

When asks about NFTs, Cook said that he finds them “interesting” but that “it will take a while to play out in a way that is for the mainstream person.” 

Currently, Apple does not have any cryptocurrency products or services. The company does allow crypto wallets apps on its App Store, but it also prohibits mining apps. Apple does offer several financial services like Apple Pay, peer-to-peer payments and, Apple Card. If the company is planning to introduce cryptocurrency products or services, they are not arriving anytime soon.

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About the Author

Asma is an editor at iThinkDifferent with a strong focus on social media, Apple news, streaming services, guides, mobile gaming, app reviews, and more. When not blogging, Asma loves to play with her cat, draw, and binge on Netflix shows.

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