On Tuesday, Apple CEO Tim Cook admitted that he owns cryptocurrency and sees it as a way to diversify his portfolio. The Apple executive also admitted that Cupertino is exploring the possibility of cryptocurrency working with Apple Pay or being used to buy Apple products one day.
At the Deal Book conference, Andrew Ross Sorkin asked Mr Cook if he owned bitcoins or ethereum. “I do, I think it’s reasonable to own them as a diversified investment,” Mr Cook said. “I’m not giving investment advice.”
“I’ve been interested in it for a while. I’ve been researching it and so forth … I think it’s interesting,” the CEO continued.
Apple CEO Tim Cook quickly denied suggestions that Apple may take cryptocurrency in exchange for products by saying that his investment was a “personal point of view.”
Cook also dismissed the possibility of Apple purchasing cryptocurrency with corporate funds for investment purposes.
“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,” Mr Cook said.
As well as investing in crypto, Sorkin talked with Cook about accepting cryptocurrencies like Bitcoin in products such as Apple Pay.
“It’s something that we are looking at,” he said, however, “it’s not something we have immediate plans to do.”
You can watch the full DealBook interview by Andrew Ross Sorkin below. Its brilliant