Apple CEO Tim Cook

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Apple CEO Tim Cook mentioned he personally owns cryptocurrency after he was requested at The New York Times DealBook convention if he owns bitcoin or ethereum.

“I do. I feel it is cheap to personal it as a part of a diversified portfolio,” Cook advised Andrew Ross Sorkin in an interview that aired Tuesday. “I’m not giving anybody funding recommendation by the way in which.”

Cook mentioned that he had been involved in cryptocurrency “for some time” and that he had been researching the subject.

However, Cook mentioned that his curiosity was from a “private perspective” and dismissed ideas that Apple would possibly take cryptocurrency in alternate for merchandise as tender.

Cook additionally rejected the opportunity of Apple shopping for cryptocurrency with company funds as an funding.

“I would not go spend money on crypto, not as a result of I would not make investments my very own cash, however as a result of I do not suppose folks purchase Apple inventory to get publicity to crypto,” he mentioned.

In August, Cook acquired 5 million shares of Apple inventory value $750 million on the time. He will get further grants of Apple inventory by way of 2026, of which the variety of shares of will depend on Apple inventory efficiency. He has mentioned he plans to donate his total fortune to charity.

Bitcoin and ether hit all-time highs Tuesday morning.

Apple would not presently have any cryptocurrency services or products. It does permit crypto pockets apps on its iPhone App Store, but it surely additionally prohibits mining apps.

Apple has launched monetary providers by way of its Wallet app, which incorporates contactless Apple Pay, peer-to-peer funds and the Apple Card bank card.

If Apple does introduce cryptocurrency services or products, they’re a few years away. An Apple Pay govt mentioned in 2019 that the corporate noticed “long-term potential” in cryptocurrency.

Cook mentioned Tuesday that whereas Apple was taking a look at cryptocurrency expertise, it is “not one thing we’ve got speedy plans to do.”

Correction: Apple CEO Tim Cook spoke with Andrew Ross Sorkin in an interview that aired Tuesday. An earlier model mischaracterized the timing.

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