Tim Cook reveals owning cryptocurrency, digital coins soar, Apple will not sell products for crypto

Image Credit Tim Cook

 

Tim Cook, the CEO of Apple, has said that he personally owns cryptocurrency. In an interview with The New York Times’ Andrew Ross Sorkin during a DealBook conference, on Tuesday, Cook revealed that he owned digital currency. He refused to specify the currency. However, the revelation sent Bitcoin, Ethereum and several other coins soaring as they reached all time highs.

The 61- year old CEO said that he had been “interested” in cryptocurrency “for a while.” He added that his interest was personal and that he did not speak for the company. He also called it “reasonable to own it as a part of a diversified portfolio”, but added that he was “not giving anyone investment advice.” He also said that he had been researching the product.

It is not clear how much of crypto currency is part of his personal portfolio and which digital coins make up his personal assets. However, Forbes can confirm that his personal net worth, as of Tuesday, is approximately $1.4 billion



He confirmed that Apple would not allow people to buy its products such as iPhone, iPads, Macs and other products with cryptocurrency, in the immediate future. He also said that Apple will not invest any part of its cash balance in cryptocurrencies. He said that he believed the shareholders of Apple were not interested in cryptocurrencies.

Cook did drop hints that there were other things that they were looking into, with reference to cryptocurrencies but he did not mention any specific plans. Cook said that although Apple was looking at the technology behind cryptocurrencies, it was “not something we have immediate plans to do.” Apple allows crypto wallet apps on its App Store. However, it does not allow mining apps.

He spoke for approximately 30 minutes on diverse topics including the current battle with Epic Games. He said Apple thinks its approach was best for security and those who “want to sideload” could buy an Android phone.

 


Follow us on Google news for more updates and News










Full Disclaimer








>

FREE

Get the most important breaking news and analyses for Free.

Thank you for subscribing.

Something went wrong.