Published , by TJ Denzer
Published , by TJ Denzer
Tim Cook presides over one of the world’s most highly valued companies, so it shouldn't come as a shock that he's not only considered, but also invested in cryptocurrency. In fact, Cook recently revealed that he has his own personal investment in Bitcoin. However, where a lot of organizations are beginning to open their doors to investing company capital into cryptocurrency, Cook isn’t going that far at this time. He doesn’t believe it’s a priority to Apple investors.
Tim Cook recently shared his stake and thoughts on Bitcoin and further cryptocurrency in a conversation with CNBC. Cook revealed that he owns a bit of Bitcoin, and while he wouldn’t consider himself a financial advisor, he does believe from a personal point of view that “it’s reasonable to own it as part of a diversified portfolio.” That philosophy applies only to Tim himself, though. When asked whether there was a chance Apple might also invest in cryptocurrency, Cook dismissed the idea altogether.
Tim Cook’s stance on Apple investing in cryptocurrency is that the investors of Apple aren’t interested in the exposure that would bring.
“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,” Cook said.
As far as the Apple company goes, there are currently no cryptocurrency products or services provided through its ecosystem. The company does allow crypto wallet apps, but it also forbids cryptocurrency mining via its platforms.
Even so, Bitcoin and Ethereum sit at an all-time high with the former valued at over $67.5k per unit and the latter at over $4.8k as of this writing. Companies like Tesla have previously invested deep into Bitcoin and Discord is even teasing opening its arms to cryptocurrency wallet connections. It will be interesting to see if Cook’s position changes over time or if Apple remains stalwart in its stance to keep cryptocurrency out of Apple’s investments.