Tim Cook revealed today that he owns a certain amount of cryptocurrency that he has invested in. In an interview during a New York Times event, Cook acknowledged that has been interested in them “for a long time”.
A reasonable investment within a diversified portfolio
During the DealBook event, promoted by the New York Times, Tim Cook commented that he himself has invested in cryptocurrencies. Without going into detail about which specific currency has attracted his interest, Apple’s chief executive officer has commented that Apple is “looking” at cryptocurrencies, but that no announcement is planned in the short term. Tim Cook has commented that, unlike Tesla, Apple does not plan to invest in cryptocurrencies because it considers that the company’s shareholders do not buy AAPL shares and then expose themselves to cryptocurrency volatility.
Sorkin: What do you think about cryptocurrency right now and potentially accepting it through Apple Pay or otherwise?
Cook: It is something we are seeing, it is not something we have immediate plans to do. I would characterize it as there are things it wouldn’t do, like our cash balance. I wouldn’t go and invest that in cryptocurrencies not because I wouldn’t invest my own money in cryptocurrencies, but because I don’t think people buy Apple stock to get exposure to cryptocurrency. So if they want to do that they invest directly in cryptocurrencies through other means. So I wouldn’t do that. I do not plan to accept cryptocurrencies for our products in the immediate future. There are other things that we are definitely looking at. “
Commenting beforehand that he is not giving any investment advice to anyone, Tim Cook has acknowledged that he owns cryptocurrency himself. Something that considers “reasonable within a diversified investment portfolio”.
In the line of cryptocurrencies and the blockchain, the CEO of Apple has also answered about the NFTs. In this regard, Tim Cook has explained that the concept seems interesting to him, but that “There is no time for this to interest society in general”.
It seems a bit early to take certain steps in the cryptocurrency market. The day when we can use Apple Pay to pay with Bitcoin in an Apple Store may still be far off, but it cannot be ruled out either. It is an important sector that is becoming more and more relevant, we will see what movements Apple adopts in this regard.