The widespread interest in cryptocurrencies is on the rise. Despite its strong volatility, more and more personalities and companies decide to give this digital asset a try. Tim Cook has recently revealed that personally invest in cryptocurrencies, but that Apple has no plans to admit them soon.
The comments of Apple CEO Tim Cook have occurred this Tuesday at the event DealBook of the New York Times. Asked what he thinks of cryptocurrencies and about a possible support in Apple Pay, the executive replied: “It is something that we are seeing, it is not something that we have immediate plans to do. I would characterize it within the things that I would not do“.
Along these lines, Tim Cook explained his position. “I wouldn’t go and reverse that [dinero en efectivo de Apple] in cryptocurrencies, not because I would not invest my own money in cryptocurrencies, but because I do not believe that people buy Apple shares to expose themselves to the cryptocurrency. So if they want to do that, they invest directly in crypto through other means. “
During the interview, the Apple executive made it clear thate the company will not accept cryptocurrencies in the “immediate future”. However, he acknowledged that he personally invests in cryptocurrencies. Tim Cook considers this type of investment “reasonable within a diversified investment portfolio.” However, it did not provide details about the type of cryptocurrencies that are within its portfolio.
Tim Cook Invests in Cryptocurrencies: What Are They Really?
Generally speaking, cryptocurrencies are digital means of exchange that use cryptography to secure transactions, control unit creation, and verify transfers. Unlike traditional currencies, they generally do not have an asset behind to support their value and use decentralized control that is not dependent on central banks.
Currently, the Bitcoin It is one of the most famous cryptocurrencies. This may be because it was the first to start operating, precisely in 2009. But since then a large number such as Litecoin, Ethereum, Ripple, Dogecoin have appeared. The latter acquired special relevance since the tycoon Elon Musk began to promote it. As for the director of Apple, it is not known which is his preference.
One of the main characteristics of cryptocurrencies is their great volatility, both in use and investment. Supply, demand and speculative practices with some of the factors that determine its value.
To address this, the blockchain has allowed stablecoins to emerge. They associate their value with fiat currencies such as the dollar and the euro; or material goods. Some of the best known stablecoins today are Tether or DAI.