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Tim cook holds crypto but has no plans to buy it for Apple

November 10, 2021 By Hassan Maishera

Some of the leading names in the tech world are now into cryptocurrencies and Apple’s Tim Cook has revealed that he holds some cryptos.

Apple CEO Tim Cook has revealed in a recent interview that he holds some cryptocurrencies. Thus, becoming the latest high-end executive to admit that he holding cryptocurrencies. However, Cook said the investment is from a personal point of view.

The Apple CEO made this statement during an interview with Andrew Ross Sorkin at the New York Times DealBook conference earlier this week. When asked if he owns Bitcoin or Ether, Cook replied that he does. However, he pointed out that he wouldn’t buy cryptocurrencies for Apple at the moment.

Tim Cook said

“I do. I think it’s reasonable to own it as part of a diversified portfolio. 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.”

The Apple executive added that the tech giant has no immediate plans to accept cryptocurrency payment from its customers. However, Cook added that there are some things the company is currently looking at but he didn’t provide further details into what they are.

Earlier this year, Apple posted a job advert where it stated that it is looking for a cryptocurrency expert to lead partnership efforts. Tim cook becomes the latest company executive to admit that he personally holds cryptocurrencies. Elon Musk, Tesla and SpaceX’s CEO already revealed earlier this that he personally holds BTC, ETH and DOGE.

Cook’s latest comment on cryptocurrency led to Twitter discussions, with MicroStrategy CEO Michael Saylor voicing his opinions. He said

“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.”

MicroStrategy currently holds more than $7 billion worth of bitcoins, with Michael Saylor very bullish about the leading cryptocurrency.