Tim Cook Owns Crypto and Has Been Interested in it for ‘a While’

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Apple CEO Tim Cook has recently revealed that he has been interested in cryptocurrencies for a while and even owns some.

The iPhone maker’s chief executive said he personally owns cryptocurrency on Tuesday at the DealBook conference and that he had been researching the topic for a while.

Cook said that his interest was from a “personal point of view” and denied suggestions that Apple might take cryptocurrency in exchange for products as tender or buy it with corporate funds.

“I do. I think it’s reasonable to own it as part of a diversified portfolio,” Cook told Andrew Ross Sorkin in an interview. “I’m not giving anyone investment advice by the way.”

The CEO rejected the possibility of Apple buying cryptocurrency with corporate funds as an investment.

“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.

It was this past August that Cook had received 5 million shares of Apple stock worth $750 million at the time.

The CEO will get additional grants of Apple stock through 2026, of which the number of shares of depends on Apple stock performance. He has said he plans to donate his entire fortune to charity.

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

Apple doesn’t currently have any cryptocurrency products or services but does allow crypto wallet apps on its iPhone App Store. It prohibits mining 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.

Cook said Tuesday that while Apple was looking at cryptocurrency technology, it’s “not something we have immediate plans to do.”

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.