TL;DR Breakdown
- Apple founder, Tim Cook says he owns Bitcoin.
- Cook confirms Apple is not launching any crypto product soon.
CEO of Apple, Tim Cook, has revealed that he invested in cryptocurrency. He hinted that he owns Bitcoin or Ethereum, not saying which exactly he currently hodls.
Tim Cook revealed this on Tuesday at the DealBook conference when he was asked if he owns BTC or ETH.
“I do. I think it’s reasonable to own it as part of a diversified portfolio,” Cook told Andrew Ross Sorkin in a recorded interview. “I’m not giving anyone investment advice, by the way.”
Tim Cook, who spoke extensively on cryptocurrency, said that he has been interested in it for a while, and he has been researching on the topic.
He stated clearly that his interest was personal and debunked suggestions Apple was going crypto anytime soon. The founder also stated that Apple was not investing in cryptocurrencies like Tesla or MicroStrategy, among others.
Tim Cook and others own cryptocurrencies
Tim Cook joins other tech billionaires like Elon Musk, Jack Dorsey, Michael Saylor, among others who own cryptocurrency.
Unlike Cook, the Tesla CEO has been very vocal about his crypto holdings and never fails to comment from time to time about cryptocurrencies, especially his favorite meme coin, Doge.
The Tesla and Space X boss revealed that he had Bitcoin but never revealed the amount he had. His firm, Space X, also disclosed in February that it holds Bitcoin.
In February, Tesla disclosed a $1.5 billion investment in bitcoin and soon after began accepting the cryptocurrency as payment for its vehicles. However, the company quickly reversed course, suspending that initiative in May as Mr. Musk expressed worry about the source of the electricity being used to power bitcoin mining.
Apple and Bitcoin
Tim Cook revealed that his tech firm has no plans to invest in crypto, open crypto payment, or release any crypto product anytime soon.
He argues that private companies are now supposed to create their own money, taking a veiled swipe at Facebook’s now-revamped Libra project.
Weeks back, Apple co-founder, Steve Wozniak a known Bitcoin proponent, said cryptos would be banned eventually when they become too big.
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