Tim Cook says Apple is studying crypto and investing in it

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Apple is studying crypto and Tim Cook has invested in it himself, he revealed.

The company has no immediate plans to enter the crypto market, but has explored its options, the chief executive said at a New York Times conference.

It’s something we watched, he told Andrew Ross Sorkin in an interview. It is not something that we have immediate plans to do.

There are things I wouldn’t do, like our cash balance, I wouldn’t go and invest in crypto, he said. Other companies such as Tesla have already invested in bitcoin at the enterprise level.

Not because I wouldn’t invest my own money in crypto, but because people don’t buy Apple stocks to gain exposure to crypto.

And I do not plan, in the immediate future, to take crypto for our products.

When asked what Apple might be planning then, Mr Cook said he had nothing to announce today.

He did, however, reveal that he was personally invested in cryptocurrency.

I think it’s reasonable to own it as part of a diversified portfolio, he said. I’ve been interested in it for a while.

When asked if that could mean people would call him a bitcoin bull, Mr Cook replied that he didn’t know what people might call him, and noted that it’s just something ‘a personal point of view that interests me.

Asked about non-fungible tokens, the controversial digital contracts that rely on some of the same technologies as cryptocurrencies, Cook seemed less interested.

He said the technology was interesting but it would take some time for it to be relevant to the average person.

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