Tim Cook shares thoughts on cryptocurrencies and reveals that he has personally invested in them

In an interview with the New York Times today, Apple CEO Tim Cook spoke about the future of Augmented Reality (AR) and shared his opinion on cryptocurrencies like Bitcoin.

Speaking to Andrew Ross Sorkin for the DealBook online conference, Cook said that Apple is “looking at” crypto but has no plans to make any announcements in the near future. He mentioned that in contrast to Tesla, Apple does not plan to invest in cryptocurrencies as a company because it believes its shareholders will not buy its shares to trade cryptocurrencies. This further sets the company apart from Tesla, which is in short accepts bitcoin as payment for his cars.

Cook said Apple has no “immediate future” plans to accept cryptocurrencies as a means of payment for products or through Apple Pay.

“It’s something we’re looking at, it’s not something we’re about to do. I would characterize it as having things that I wouldn’t do, like our cash on hand. I wouldn’t invest that in crypto, not because I wouldn’t invest my own money in crypto, but because I don’t think people are buying Apple stock to get into crypto. So if that’s what they want to do, there are other ways they can directly invest in crypto. And that’s why I wouldn’t do that. I have no intention of using crypto as a means of bidding for our products in the near future, but there are other things that we are definitely looking into. “

Interestingly, Apple’s CEO announced that he owns cryptocurrencies himself and said, “It is reasonable to own them as part of our diversified portfolio.” He added that this did not mean that he was providing “investment advice” to anyone. In a similar context, Cook said the concept of NFTs was “interesting” but “it will take a while to develop in a way that is appropriate for the mainstream person”.

This is the first time Tim Cook has taken a personal look at the cryptocurrency in spite of Jennifer Bailey, Apple Pay’s 2019 vice president speaking about the term potential. “

New York Times

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