Apple CEO Tim Cook Owns Cryptocurrencies and Has Been Quite Interested in the Market for a While

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Cryptocurrencies are the hottest topic on the web and it’s not even close. From the regular Joe to major tech magnates, everyone’s looking to get a piece of the crypto pie. They’ve infiltrated every aspect of society. You can now pay in crypto in many online merchants and some stores or play casino games with Bitcoin and the bunch.

While big industry figures haven’t been that interested in sharing investment advice, many own cryptos. Apple CEO Tim Cook recently admitted that he has invested in them and that he’s been looking into cryptos for a while now.

And, while the head of one of the biggest tech companies in the world favors crypto, it doesn’t mean Apple will follow in his footsteps. Cook said that his interest is personal and that he wouldn’t give anyone investment advice for Bitcoin and cryptos.

A Personal Interest

Cook’s revelation came earlier this week when he appeared at the New York Times DealBook Conference. In an interview that aired Tuesday, Andrew Ross Sorkin asked him if he owns any Bitcoin or Ethereum. Cook replied positively and said that he’s been interested in cryptos for a while. He’s also been researching the topic, but only from a personal point of view.

He noted that it doesn’t mean Apple will get into the crypto business. As he explained, Apple will never buy cryptocurrencies with corporate funds as an investment. “People simply don’t get Apple stock for crypto exposure,” he stated.

While his interview may have got some Apple fanboys all riled up, it’s clear that the company isn’t high on cryptocurrencies. Of course, its employees can invest all they want just like Cook with their personal funds.

Earlier this August, Tim Cook got 5 million Apple shares that are worth $750 million. He will get more grants through 2026, with the number of shares he receives depending on Apple’s stock performance. Tim Cook has said several times that he plans to donate all of his fortune away to charity.

Apple’s Crypto Situation

Apple doesn’t currently have cryptocurrencies in its portfolio. It allows crypto wallets in its store, but has banned mining apps. So far, the only financial services Apple offers are peer-to-peer payments, the Apple credit card, and the contactless solution Apple Pay.

There’s been no indication that Apple will get into the crypto business anytime soon. Cook’s views are his own, and he has rejected any possibility that the company might jump into the crypto market. On the other hand, Apple has been looking into cryptocurrency technology, but he left it at that.

A company such as Apple getting into the crypto market would be huge. Bitcoin and Ethereum have just hit all-time highs, and it seems that the bull run will continue for at least a few months ahead. Some altcoins have been making great runs too, so it’s a perfect time to get invested in cryptocurrencies and possibly get a profit boost.

 

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November 10, 2021: • No Comments

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