CEO of Apple Tim Cook Says He Owns Crypto, Yet Apple Won't Use It For Payments

2021-11-09 22:03:03

While giving an interview at the New York Times DealBook event on Monday, The CEO of Apple, Tim Cook, revealed that he owns crypto. However, he also states that currently, Apple is not thinking about incorporating crypto payments.

Moreover, during the interview, the host Andrew Ross Sorkin asked Tim Cook whether he owns bitcoin or ethereum. And the CEO’s answer was both.

I do. I think it’s reasonable to own it as part of a diversified portfolio.Tim Cook | CEO of Apple

The CEO of Apple went on about how the main goal of the company is to keep the essence. And consequently integrity and safety. In particular, he believes that crypto is not part of Apple’s DNA.

I wouldn’t go invest in crypto [for Apple], not because I wouldn’t invest my own money, but because I don’t think people buy Apple stock to get exposure to crypto.Tim Cook | CEO of Apple

While Apple doesn’t deal with crypto at the moment, a few months back Apple posted a job opening that is directly related to crypto. The job was for the position of Business Development Manager to explore alternative partnership methods. Just like crypto, for example.

Yet, a big part of the crypto community disagrees with this narrative. Specifically, they believe that Apple can greatly capitalize if they decide to incorporate crypto. One such individual is the CEO of MicroStrategy, Michael Saylor.

If Apple were to add support for Bitcoin to the iPhone and convert their treasury to a Bitcoin Standard, it would be worth at least a trillion dollars to their shareholders.Michael Saylor| CEO of MicroStrategy

The CEO of Apple, Tim Cook is just the latest of the business moguls to disclose that he owns crypto. Especially since power figures like Senator Cynthia Lummis, Mark Cuban, Elon Musk  and quite a few other, have all publicly admited to owning digital assets.

This is just one of the reasons why many believe that sooner or later, Apple is bound to get on the crypto train as well.


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