The CEO of the tech giant Apple, Tim Cook disclosed that he owns cryptocurrency and said that he thinks it’s reasonable to own it as part of a diversified portfolio.” Cook’s statements stem from an appearance with New York Times Dealbook host Andrew Ross Sorkin.
Apple CEO Tim Cook Tells the Press He Owns Crypto and It’s Something Apple Is ‘Looking At’
The cryptocurrency economy has been on a tear and recently captured $3 trillion in value this week as bitcoin (BTC) and a number of other crypto assets reached all-time price highs. The value of the crypto-economy is now greater than $ 500 billion more than Apple’s market capitalization. The crypto economy also grew significantly faster in value than the American multinational technology company.
Meanwhile, the CEO of Apple disclosed that he owns crypto and the executive thinks it is reasonable to add it to a wallet. When asked if he owns crypto, Cook responded: “I do. I think it’s reasonable to own it as part of a diversified portfolio.” Additionally, Cook was asked what he thought “of potentially accepting [cryptocurrency] via Apple Pay or otherwise. Apple’s CEO responded:
Um, it’s something that we’re looking at. It’s not something we have immediate plans to do. I would sort of say there are things I wouldn’t do like our cash balance. I wouldn’t go invest that in crypto, not because I wouldn’t invest my own money in crypto, but because I don’t think people buy Apple stock to get exposure to crypto.
Cook has been interested in crypto for some time and has been researching the topic
On Twitter, Microstrategy CEO Michael Saylor responded to Cook’s cash balance statements and noted: “If Apple added support for Bitcoin to the iPhone and converted its cash to Bitcoin Standard, it would be worth at least a trillion dollars to its shareholders.” Many other digital currency proponents shared the Apple CEO’s statements as they were extremely pleased to hear the technology company’s executive has a hand in the crypto bucket.
After Cook said he thought it was reasonable to own it as part of a diversified portfolio, the Apple CEO further pointed out, “I don’t give anyone investment advice, by the way. ” Cook added that he’s been researching crypto for some time now and he believes it is fascinating.” And so I think it’s interesting, ”Cook noted.
