Apple CEO Tim Cook states he owns cryptocurrency

Apple CEO Tim Cook says he owns cryptocurrency

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Apple CEO Tim Cook

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Apple CEO Tim Cook stated he personally owns cryptocurrency after he was asked at The New York Times DealBook conference if he owns bitcoin or ethereum.

“I do. I think it’s reasonable to own it as part of a diversified portfolio,” Cook informed Andrew Ross Sorkin in an interview that airedTuesday “I’m not giving anyone investment advice by the way.”

Cook stated that he had actually had an interest in cryptocurrency “for a while” which he had actually been investigating the subject.

However, Cook stated that his interest was from a “personal point of view” and dismissed recommendations that Apple may take cryptocurrency in exchange for items as tender.

Cook likewise turned down the possibility of Apple purchasing cryptocurrency with business funds as a financial investment.

“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,” he stated.

In August, Cook got 5 million shares of Apple stock worth $750 million at the time. He will get extra grants of Apple stock through 2026, of which the variety of shares of depends upon Apple stock efficiency. He has actually stated he prepares to contribute his whole fortune to charity.

Bitcoin and ether struck all-time highs Tuesday early morning.

Apple does not presently have any cryptocurrency services or products. It does enable crypto wallet apps on its iPhone App Store, however it likewise restricts mining apps.

Apple has actually launched monetary services through its Wallet app, that includes contactless Apple Pay, peer-to-peer payments and the Apple Card charge card.

If Apple does present cryptocurrency services or products, they are several years away. An Apple Pay executive stated in 2019 that the business saw “long-term potential” in cryptocurrency.

Cook stated Tuesday that while Apple was taking a look at cryptocurrency innovation, it’s “not something we have immediate plans to do.”

Correction: Apple CEO Tim Cook consulted with Andrew Ross Sorkin in an interview that airedTuesday An earlier variation mischaracterized the timing.