Apple to not hold cryptocurrencies anytime soon, says CEO Cook
Although more and more US public-listed companies are purchasing and holding cryptocurrencies like Bitcoin, Apple has no intentions to follow suit- at least that’s what CEO Time Cook says.
Apple CEO Tim Cook was interviewed at the DealBook Online Summit hosted by NY Times on the 10th, where he was asked if he owns “any crypto, Bitcoin or Ethereum”. Cook responded affirmatively, noting that “it’s reasonable to own it as part of a diversified portfolio”.
Cook noted that he’s been interested in cryptocurrency for a while. However, keeping his personal interests aside, the executive revealed that Apple does not intend to hold or invest in crypto assets.
“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 in a statement. In addition, Apple has no plans to introduce cryptocurrency payments for its products as of now.
Micheal Saylor, CEO of MicroStrategy, which owns the largest number of Bitcoins as a Nasdaq-listed company, tweeted a response to CEO Cook.
If @Apple were to add support for #Bitcoin to the iPhone and convert their treasury to a Bitcoin Standard, it would be worth at least a trillion dollars to their shareholders. $AAPLhttps://t.co/her5b6vhEB
— Michael Saylor
(@saylor) November 9, 2021
While Apple has not yet revealed any plans related to cryptocurrencies, in May, the $2.7 trillion company was recruiting personnel with work experience related to cryptocurrency settlement.
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Gauri Bhatia, @Khareem Sudlow