During a recent appearance on the New York Times DealBook Online Summit program, Apple CEO Tim Cook revealed that he is an investor in cryptocurrencies and explicitly holds Bitcoin and Ether. He stated that crypto assets, including Bitcoin and Ethereum, can reasonably be part of a diversified investment portfolio as a prudent allocation strategy.
However, Cook has dampened expectations for ideas such as ‘Apple accepting cryptocurrency payments for iPhones and Macs or investing corporate assets in Bitcoin.’ Cook noted that after extensive research into cryptocurrencies, he concluded it is reasonable to hold them as part of a diversified personal investment portfolio. ‘I’ve been studying it for a while now, and I find it interesting,’ he said.
Cook mentioned that while a billionaire may have their own cryptocurrency holdings, he does not intend to invest Apple’s $200 billion cash reserves in Bitcoin or other crypto assets. ‘I don’t think people buy Apple stock for exposure to cryptocurrencies,’ he remarked, adding that Apple will also (for now) not accept cryptocurrency as a payment method for its products.
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Edited by Lambor