The chief executive officer of one of the world’s most profitable and recognizable tech companies has revealed that he holds cryptoassets.
During an interview with Andrew Ross Sorkin at The New York Times DealBook Online Summit, Apple CEO Tim Cook claimed to hold cryptoassets as part of his investment portfolio. The comment came in response to Sorkin questioning the CEO as to whether he owns any Bitcoin or Ethereum or if he would “play around” in crypto.
As reported by The Daily Hodl, Cook replied,
I do. Yeah, I think it’s reasonable to own it as a part of a diversified portfolio.
Cook was quick to remind Sorkin that he was “not giving anybody any investment advice.” He stressed that he was describing his own investing habits rather than those of his company.
Apple’s CEO continued, saying he has been personally interest in the technology of crypto “for a while,” and finds it “interesting.”
Despite being intrigued by crypto, Cook shot down the possibility of Apple, which holds a market capitalization of around $2.46 trillion, investing in crypto. He said APPL investors were not looking to gain exposure to crypto via the tech stock.
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.
While Apple may not be investing in cryptoassets outright, the company’s popular Wallet app is a possible avenue for adoption. In May, the company posted a job opening titled “Business Development Manager – Alternative Payments,” leading to speculation that crypto integration may be on the horizon.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
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