Apple CEO Tim Cook Says He Owns Cryptocurrency

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Apple CEO Tim Cook

Michel Porro | Getty Images

Apple CEO Tim Cook said he personally owned a cryptocurrency after he was asked at the New York Times DealBook conference whether he owned bitcoin or ethereum.

“I do. I think it’s reasonable to own it as part of a diverse portfolio,” Cook told Andrew Ross Sorkin in an interview aired Tuesday. “By the way, I don’t give anyone investment advice.”

Cook said he had been interested in cryptocurrency “for quite some time” and had researched the topic.

However, Cook said his interest was from a “personal point of view” and rejected suggestions that Apple could take the cryptocurrency in exchange for products as a bid.

Cook also dismissed the possibility of Apple buying cryptocurrency with corporate funds as an investment.

“I wouldn’t go and invest in crypto, not because I wouldn’t invest my own money, but because I don’t think people buy Apple stocks to get exposure to crypto,” he said. -he declares.

In August, Cook received 5 million Apple shares worth $ 750 million at the time. He will get additional grants of Apple shares until 2026, the number of which depends on the performance of Apple shares. He said he plans to donate his entire fortune to charity.

Bitcoin and ether hit all-time highs on Tuesday morning.

Learn more about cryptocurrencies from CNBC Pro

Apple does not currently have any cryptocurrency products or services. It allows crypto wallet apps on its iPhone App Store, but it also prohibits the exploitation of apps.

Apple has released financial services through its Wallet app, which includes contactless Apple Pay, peer-to-peer payments, and the Apple Card credit card.

If Apple introduces cryptocurrency products or services, they will be many years away. An Apple Pay executive said in 2019 that the company sees “long-term potential” in cryptocurrency.

Cook said on Tuesday that although Apple is studying cryptocurrency technology, it is “not something we have immediate plans to do.”

Correction: Apple CEO Tim Cook spoke to Andrew Ross Sorkin in an interview that aired Tuesday. An earlier version misinterpreted the timing.

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