Apple boss says company won’t invest in crypto

Apple CEO Tim Cook has said that Apple has no immediate plans to feature cryptocurrencies just yet.

Speaking to New York Times journalist Andrew Ross Sorkin at the DealBook Summit on Tuesday, the Apple boss said, while many companies have given cryptocurrency their vote of confidence, it will not be joining them any time soon.

Cook admitted that crypto had some appeal to him, and that it made sense to hold some crypto as part of a diversified portfolio. Yet, the executive is not convinced that the currency should be introduced as a payment option for Apple products.

He is not planning to invest the company’s cash liquidity into it either. Companies such as Square and Tesla have made headlines unloading substantial amounts of FIAT and converting it into crypto.

Tesla’s $1.5bn investment may have singlehandedly started the latest bull run in the space but Cook remains confident that Apple’s time will come.

Reflecting on how his company is perceived by the public, Cook said, “I don’t think people buy an Apple stock to get exposure to crypto”. Apple consumers may still get involved with crypto, Cook said, but it would not be using Apple’s products as a gateway just yet.

He was guarded about the future and said that it was Apple’s policy not to talk about the future but focus on here and now. He also explained that while cryptocurrencies may not be uppermost in Apple’s mind, there were other aspects of them that were of interest to executives.

If you are a crypto user, you may want to drop by Bitcasino, 1xBit or FortuneJack to spend some digital assets on entertainment.


Updated: 11/10/2021 — 13:00