Apple CEO admits to owning crypto

However, the CEO has no plans for Apple to invest in cryptos

Apple CEO Tim Cook                                 
Apple CEO Tim Cook speaking during the launch event for the iPad 6, Chicago, Illinois, US - Photo: Shutterstock
                                

Tim Cook, CEO of Apple, the world’s largest technology company by revenue has admitted to owning bitcoin or ethereum.

Speaking to Cook at the DealBook conference, Andrew Ross Sorkin asked the Apple CEO if he owns any cryptos. "Any bitcoin or ethereum, would you play around with this?” Sorkin asked.

In response, Cook said: “I do. I think it’s reasonable to own as part of a diversified portfolio.” Cook went on to say he is not giving anyone investment advice on the matter.

The Apple CEO also states he has been interested in cryptos for a while and has been researching cryptos and sees the digital currency market as “interesting.”  

This decision is not reflected in Apple

The CEO, however, went on to say there are no plans for Apple to invest in cryptos. Cook said: “I wouldn’t go invest in crypto (for Apple), 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 then added Apple has no immediate plans to accept crypto payments.

Bitcoin bull Michael Saylor, CEO of MicroStrategy Incorporated (MSTR) – an independent, publicly traded business-intelligence company – has tweeted following Cook’s remarks, stating that if Apple did support bitcoin for the “iPhone and convert their treasury to a bitcoin standard, it would be worth at least a trillion dollars to their shareholders”.  

Apple’s job ad that required crypto experience

Back in May, Apple did advertise for a job role with the company, that of Business Development Manager – Alternative Payments. This role required candidates to have five years of experience working with alternative payment providers such as cryptos.

The job ad said: “The Apple Wallets, Payments, and Commerce (WPC) team is seeking an experienced Business Development Manager to lead Alternative Payments Partnerships. We are looking for a proven professional in global alternative and emerging payment solutions.”

Further reading: Apple quarterly report: What’s the Apple stock forecast?

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