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Tags: apple | tim cook | cryptocurrency

Apple CEO Tim Cook Says He Owns Cryptocurrency, Been Interested 'for Awhile'

tim cook stands on red carpet
Apple CEO Tim Cook attends Apple's "Ted Lasso" season 2 premiere event red carpet at the Pacific Design Center, in West Hollywood, California, July 15, 2021. (VALERIE MACON/AFP via Getty Images)

By    |   Tuesday, 09 November 2021 02:10 PM

Apple CEO Tim Cook on Tuesday said he owns cryptocurrency — and has been interested in it "for awhile."

In an interview that aired at The New York Times DealBook conference, Cook said he did research on the subject before diving in.

The remarks begin at the 15:56-minute mark.

"I do," he said when asked by Andrew Ross Sorkin if he owned Bitcoin or Ethereum. "I think it’s reasonable to own it as part of a diversified portfolio."

"I’m not giving anyone investment advice by the way," he said in the recorded interview. "I’ve been interested in it for awhile," he said. "I’ve been researching it and so forth. I think it’s interesting."

However, Cook said his interest was from a "personal point of view" and dismissed suggestions that Apple might take cryptocurrency in exchange for products as tender.

Cook also rejected the possibility of Apple buying cryptocurrency with corporate funds as an 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 said.

In August, Cook received 5 million shares of of Apple stock worth $750 million at the time, CNBC reported. He will get additional grants of Apple stock through 2026, of which the number of shares depends on Apple stock performance. He has said he plans to donate his entire fortune to charity.

Bitcoin and Ethereum hit all-time highs Tuesday morning.

CNBC noted Apple doesn’t currently have any cryptocurrency products or services, though it allows crypto wallet apps on its iPhone App Store.

According to the business news outlet, if Apple does introduce cryptocurrency products or services, they are many years away. An Apple Pay executive said in 2019 the company saw "long-term potential" in cryptocurrency.

On Tuesday, Cook said while Apple was looking at cryptocurrency technology, it’s "not something we have immediate plans to do."

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StreetTalk
Apple CEO Tim Cook on Tuesday said he owns cryptocurrency - and has been interested in it "for awhile." Cook said he did research on the subject before diving in. "I think it’s reasonable to own it...
apple, tim cook, cryptocurrency
318
2021-10-09
Tuesday, 09 November 2021 02:10 PM
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