Apple CEO Tim Cook has revealed that he owns cryptocurrency during a discussion yesterday at the New York Times’ Dealbook conference, responding to a question as to whether he owned either Bitcoin or Ethereum.
Fast facts
- While he did not reveal which cryptocurrencies he held, the tech boss said in an interview with Andrew Ross Sorkin: “I think it’s reasonable to own [crypto] as a part of a diversified portfolio,” before adding, “I’m not giving anyone investment advice, by the way.” Cook said he had been interested in cryptocurrency “for a while” and had invested after researching the topic.
- Cook later rejected the possibility Apple would be looking to begin accepting cryptocurrency for its products nor to invest in crypto with corporate funds. “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,” he said.
- Beyond allowing crypto trading apps on the iPhone App Store, the company does not support any crypto features through its financial services Wallet app, which includes Apple Pay, peer-to-peer services and the Apple Card credit card. The company has left the door open for adopting crypto services, however, with an Apple Pay exec saying in 2019 the company saw “long-term potential” for cryptocurrency in the future.