- The CEO of Apple, Tim Cook , reveals that he owns crypto; however, the investment does not have any connection with Apple. Cook said cryptocurrencies are important for a diversified portfolio.
- The CEO also revealed that since investors do not buy Apple Stocks looking for crypto exposure, therefore, he wouldn’t invest in crypto for Apple.
- Currently, Apple doesn’t have any products or services that are related to crypto.
Tim Cook, the CEO of Apple, has made an eyebrow-raising revelation that he owns cryptocurrency. However, he clarified that the investments made are purely related to his personal goals and do not indicate Apple’s crypto ambitions.
On Monday, the CEO made these statements during the New York Times DealBook conference in a recorded interview with Andrew Ross Sorkin.
Cook said that he does own Bitcoin, explaining that it’s reasonable to have it for a diversified portfolio, on being asked if he personally owns Bitcoin or Ether.
However, he also said that the reason that he wouldn’t invest in crypto for Apple is that investors do not buy Apple to gain exposure to crypto, not because he does not want to invest in money. Cook also added that currently, Apple has no immediate plans to accept crypto payments.
Cook’s comment on crypto fired up the discussions on Twitter. MicroStrategy CEO Michael Saylor participating in the conversation, tweeted that it would be worth at least a trillion dollars to their shareholders if Apple were to add support for Bitcoin to the iPhone and convert their treasury to a Bitcoin Standard.
Currently, Apple does not support any crypto products or services. A job description is one of the positions noted that the payments unit is searching for a crypto- savvy person to lead partnership efforts.
The crypto market went through one of the worst phases in recent weeks, which was triggered by the Terra collapse. Flagship currencies, Ethereum and Bitcoin, too suffered the wrath of the destruction and experienced steep drops in their prices. Bitcoin at one point went below the mark of $18,000, and the top altcoin lost its support of $1,000.
Source: https://www.thecoinrepublic.com/2022/06/29/apple-ceo-himself-owns-crypto-assets-but-wouldnt-invest-in-it-for-apple/