During a discussion today at the New York Times’ Dealbook, Apple CEO Tim Cook confirmed that he has invested his own money in cryptocurrency.
Tim Cook owns cryptocurrencies
During the interview with Andrew Ross Sorkin, he said: “I think it’s reasonable to own it as part of a diversified portfolio,” and “I’m not giving anyone investment advice, by the way,” he added. Cook didn’t detail which specific digital currencies he had invested in.
“I’ve been interested in it for a while. I’ve been researching it and so forth … I think it’s interesting,” the CEO continued.
Apple considers utilizing cryptocurrencies as a payment method
Apple has no plans to release crypto-related goods at the moment, according to Tim Cook. When it comes to areas where Apple may be researching cryptocurrencies, however, he wouldn’t go into details. He also said that, while the company considers using cryptography in certain areas of its business, it does not do so in others. The most effective approach to implementing cryptocurrencies on Apple seems to be for payments.
He stated: “I would sort of characterize it as 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 an Apple stock to get exposure to crypto. And so, if they want to do that, they can invest directly in crypto through other means.”
Tim Cook also thinks that NFTs are really interesting but it will take some time for them to become mainstream among people.