Apple CEO Tim Cook stated that he owns cryptocurrency. But the company has no plans to invest in this asset class.
Today, at the New York Times DealBook Online Summit, Cook expressed his personal views on owning cryptocurrencies.
He said, “I think it is reasonable to hold it as part of a diversified investment portfolio.”
The CEO also confirmed that he personally owns cryptocurrency. Although he made it clear that this is not investment advice, but his personal opinion on his investment portfolio.
In addition, Apple does not hold any cryptocurrency, nor does it have any plans to join the countless companies that have added cryptocurrency to its portfolio.
Cook’s comments are just the latest example of cryptocurrency entering the mainstream. He is the head of the world’s second most valuable company. Many people in the business world are paying close attention.
The reasons for traditional financiers to switch to cryptocurrency may be the continuing new crown epidemic, the large-scale stimulus plans of central banks, and the decline in government trust.
In August 2020, MicroStrategy invested USD 425 million in Bitcoin, and the company currently holds approximately 114,042 Bitcoins worth more than USD 7 billion.
Companies such as Tesla, Coinbase, and Square also hold large amounts of cryptocurrencies, ranging from 42,000 BTC to 4,000 BTC.
Apple CEO expressed interest in encryption technology
Cook said that he was personally interested in encryption technology “for a while,” and he “thought it was interesting.” Cook clarified that he was talking about his own personal investment, not Apple.
When asked whether the technology giant would also allocate company funds to cryptocurrency investments, Cook ruled out this possibility.
He said, “The company will not invest in cryptocurrencies. This is not because I am unwilling to invest, but because I think people are not buying Apple stocks to gain exposure to cryptocurrencies.”
Apple’s popular wallet application currently supports multiple traditional payment methods and peer-to-peer payments, but does not support encryption.
It is worth noting that Apple currently does not have any encryption products or services. However, in early 2021, a job posting from Apple revealed that Apple’s payment department is looking for someone who is proficient in cryptocurrency.
Cook’s comments on Dealbook sparked discussions on Twitter. Bitcoin believer Michael Saylor also tweeted, “If Apple adds support for Bitcoin on the iPhone and converts its treasury to the Bitcoin standard, it will bring at least $1 trillion in value to their shareholders. “.
Cook was also asked about NFT during the meeting. In this regard, he said that NFT is very interesting, but “it will take some time to function in a way that suits mainstream people.”
The popularity and usage of cryptocurrencies are increasing dramatically, and Bitcoin today hit a record high of more than $68,000. Market giants such as Tesla and Twitter have entered the field and have adopted encryption in some way.
Earlier this year, Tesla accepted Bitcoin as a payment method for vehicles. Apple may soon join the ranks, but Cook has not disclosed any clear information.