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Tim Cook isn’t just a fan of iOS. In a post shared by DealBook on November 9th, Apple’s Tim Cook also believes in supporting and investing in crypto. Cook’s admission came in the middle of a DealBook interview that was also shared on Twitter/X.
The Apple CEO told a New York Times columnist that he has invested in crypto and held on to the assets for three years.
Cook further shared that it was a personal investment aimed at diversifying his portfolio and that, currently, the company doesn’t have crypto exposure.
Tim Cook & His Personal Crypto Holdings
Cook’s admission that he holds a considerable amount of crypto significantly boosts the industry. During the interview, the CEO expressed his confidence in cryptocurrencies, saying it’s reasonable for an individual to buy crypto to diversify their portfolio.
Tim Cook of Apple reveals that he has personally invested in cryptocurrency. “I think it’s reasonable to own it as part of a diversified portfolio,” he said at the #DealBook Online Summit. https://t.co/xpahdlKfOe pic.twitter.com/CQpQgShu0x
— DealBook (@dealbook) November 9, 2021
During the interview, Cook stated that he has a personal preference on crypto. According to the CEO, digital assets are essential to an individual’s financial strategy who wishes to diversify the portfolio.
He clarified that Apple currently doesn’t hold or trade cryptocurrencies but endorses Bitcoin as a payment option.
As of Thusday, the market cap of cryptocurrencies hit $2.95 trillion. Chart: TradingView
Apple’s Conservative Crypto Policy
Some Twitter/X users in the thread see Cook’s admission as support for the crypto industry, signaling a bullish signal. Although Cook did not specify what digital assets he owned or how much he owned, his admission of holdings was enough to generate a ripple of excitement on social media.
✨ Apple CEO Tim Cook explaining why he owns #Bitcoin and crypto, exactly 3 years ago
They have $162 billion in cash today 👀 pic.twitter.com/tiW3EzWDAh
— The Bitcoin Historian (@pete_rizzo_) November 8, 2024
While Cook embraces crypto, Apple takes a cautious approach to cryptocurrency. He clarified that Apple will not use Bitcoin and crypto as a payment option in the short term. Apple’s conservative crypto policy is in line with its commitment to protecting the privacy and security of its customers.
Cook Joins A Growing List Of Business Leaders Investing In Crypto
Apple’s Tim Cook joins elite and growing business leaders dipping their fingers into crypto. The most famous example is Elon Musk, the owner of Tesla and X/Twitter, who has vocally expressed his support for cryptocurrencies like Dogecoin.
Musk’s Tesla currently accepts payments in Doge and other meme coins. Twitter’s former executive, Jack Dorsey, has added Bitcoin as one of Square’s accepted payment methods.
There’s a growing trend of business and tech leaders boosting their connections with crypto and blockchain technology. Although some of these execs have shown excitement, many companies still take a cautious approach, suggesting that many still balance the need for innovation with security.
Featured image from Michel Porro | Getty Images, chart from TradingView