Apple CEO Tim Cook Reveals Stake In Cryptocurrencies

Apple Inc. (AAPL) CEO Tim Cook has admitted that he does invest in cryptocurrency, however, he did not specify how much money he has invested in it.

During his appearance in the Times’ Dealbook Conference, Cook was asked whether he invests in cryptocurrency. To which he replied, “I do. I think it’s reasonable to own it as part of a diversified portfolio.”

Promptly jumping away from any possibility of coming across as an influencer, he added,”I’m not giving anyone investment advice by the way.”

He also claimed that he has been interested in technology and has been gaining knowledge before investing.”I’ve been interested in it for a while. I’ve been researching it and so forth … I think it’s interesting,” said Cook.

When the interviewer, almost inevitably asked, whether Apple is going to accept crypto payments in the future, Cook said, “It is not something we have immediate plans to do.” However, Cook also hinted at other things that his company might be looking at,”there are other things that we’re definitely looking at”, said Cook, keeping things vague.

Cook was also asked if Apple itself is planning to make its own cryptocurrency. He discouraged the chances as he thinks that it might collide with their target audience.”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.

Apple, with its Wallet app, does support a lot of payment options that are powered by advanced technology. As a company, Apple has been built around its credibility which is a trait that the mass does not credit cryptocurrency with.

During a convention in 2019, an Apple employee had specified that the company sees cryptocurrency as having”long term potential” which is not required for the users.

The interview ranged from NFT related discussions to Cook’s thoughts on the Epic games debacle which resulted in Apple banning Fortnite out of their App store.

Cook said, “If you want to sideload, you can buy [an] Android phone. That choice exists when you go into the carrier shop. If that’s important to you, then you should buy an Android phone.”

Comparing to allow the apps to sideload their own apps on iPhone to being like an automaker selling a car without airbags or seat belts.”It’s just too risky to do that. It wouldn’t be an iPhone if it didn’t maximize security and privacy.”

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