BUSINESS

Will Apple Go Crypto?

Apple’s CEO Tim Cook is talking cryptocurrency, but will the head of the tech giant lead his company into the crypto world?

He has said in prior reports that he personally owns cryptocurrency.

However, he suggested that any foray of Apple into that area would be from a technology perspective, but not from a treasury decision.

“It’s something we are looking at, it’s not something we have immediate plans to do. I would characterize it as there are things that I would not do like our cash balance,” Cook said in an interview.

He further said, “I would not go and invest that in crypto not because I would not invest my own money in crypto, but because I don’t think people buy Apple stock to get exposure to crypto.”

“So, if they want to do that, they can, you know, invest directly in crypto through other means. And so, I would not do that. I’m not planning to in the immediate future to take crypto for our products. As a means of tender, but there are other things that we are definitely looking at,” he added.

During the interview, Cook revealed that he owns cryptocurrency, saying “it’s reasonable to own it as a part of a diversified portfolio,” while also noting that he’s “not giving anybody investment advice.”

Readers Bureau, Contributor

Edited by Jesus Chan

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