Tim Cook owns cryptocurrency but says Apple has no immediate plans to integrate cryptocurrency


Apple CEO Tim Cook has expressed an interest in the crypto space and revealed that he is a crypto investor himself. The 61-year-old tech mogul spoke at the New York Times’ online DealBook conference when he gave his opinion on cryptocurrencies. While Cook claimed that Apple had nothing to do with his personal attitudes, Cook said that he had been interested in and explored the crypto space for some time. The Apple chief also said the company currently has no immediate plans for crypto integration.

Unlike Elon Musk’s Tesla, Apple will not use its treasury to buy cryptocurrencies, Cook said, while rejecting the idea of ​​accepting crypto coins through Apple Pay anytime soon.

“It’s something we’re looking at, it’s not something we’re about to do. I would characterize it as having things that I wouldn’t do, like our cash on hand, ”Cook said. “I don’t think people are buying Apple stock to get into crypto. So if that’s what they want to do, there are other ways they can directly invest in crypto, ”he added.

A video clip of the Apple boss’s interview with NYT journalist Andrew Ross Sorkin is making the rounds on Twitter.

Apple’s Tim Cook reveals that he has personally invested in cryptocurrency. “I think it’s reasonable to own it as part of a diversified portfolio,” he said at the #DealBook Online Summit. https://t.co/xpahdlKfOe pic.twitter.com/CQpQgShu0x

– DealBook (@dealbook) November 9, 2021

The Apple boss said it was sensible to own cryptocurrencies as part of a diversified portfolio. This is the first time Cook has spoken publicly about cryptocurrencies.

Meanwhile, Apple’s work on cryptocurrencies has been in the news since 2019.

In September 2019, Apple Pay vice president Jennifer Bailey revealed that the iPhone maker is paying close attention to the crypto space and viewing cryptocurrencies as assets with “interesting long-term potential,” according to a CNN report.

Currently, Apple does not offer any cryptocurrency-based products and services, nor does it accept crypto payments.

Crypto wallet apps are available on its app store, where crypto mining apps are currently banned.

At the international level, the crypto market is experiencing rapid expansion. Earlier this week, the total valuation of the crypto market reached $ 3.007 trillion (about billion rupees), according to market research tracker CoinGecko.

Interested in cryptocurrency? We discuss everything about crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music, and anywhere you get your podcasts.


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