Tim Cook Talks Crypto Holdings, Whether Apple Could Accept Crypto in the Future

By Benzinga
Benzinga
Benzinga
November 9, 2021 Updated: November 10, 2021

As crypto trades near all-time highs, all of the companies that added Bitcoin to their balance sheets this year are net positive on their investments. As one of the most influential tech companies in recent times, might Apple Inc consider investing in crypto and blockchain technology?

“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,” Apple CEO Tim Cook said Tuesday at The New York Times’ DealBook Conference.

Although it seems Apple won’t be investing in crypto anytime soon, Cook told Andrew Ross Sorkin, who interviewed the Apple CEO at the DealBook Conference, that he personally owns cryptocurrencies.

When asked if he owns Bitcoin or Ethereum, Cook said: “I do, yeah, I think it’s reasonable to own it as part of a diversified portfolio.

“I’ve been interested in it for a while,” the CEO said, adding that he has been researching crypto and thinks it’s interesting.

Aside from investing in crypto, Sorkin asked Cook about the possibility of accepting cryptocurrencies like Bitcoin for products like Apple Pay.

“It’s something that we are looking at,” he said, however, “it’s not something we have immediate plans to do.”

BTC, ETH Price Action

Bitcoin was trading 0.43 percent higher over 24 hours at $66,659 on last check Tuesday, while Ethereum was down 0.34 percent at $4,716.

Benzinga