Emily Walker
Tim Cook, the CEO of Apple, has recently revealed his personal support for cryptocurrency. This announcement came during a DealBook interview posted on November 9, where Cook discussed his investment in digital assets on Twitter/X.
Cook mentioned that he has been investing in cryptocurrency for three years as part of his strategy to diversify his investment portfolio, although he clarified that Apple itself does not currently engage with cryptocurrencies.
Tim Cook’s Personal Investment in Crypto
Cook’s acknowledgment of his cryptocurrency holdings is seen as a positive development for the crypto sector. In the interview, he emphasized that owning cryptocurrencies is a practical choice for anyone looking to broaden their financial portfolio.
Tim Cook of Apple shares that he personally invests in cryptocurrency, stating, “I think it’s reasonable to own it as part of a diversified portfolio,” during the #DealBook Online Summit. pic.twitter.com/CQpQgShu0x
— DealBook (@dealbook) November 9, 2021
During his conversation, Cook expressed his belief that digital assets play a crucial role in an individual’s financial planning strategy for those who seek to diversify their investments.
He also made it clear that while Apple does not currently trade or hold cryptocurrencies, the company does support Bitcoin as a payment method.
Apple’s Prudent Stance on Cryptocurrency
Many users on Twitter/X view Cook’s revelation as a sign of support for the cryptocurrency sector, generating enthusiasm among followers. Despite not disclosing which specific cryptocurrencies he holds, his acknowledgment has sparked excitement across social media platforms.
Apple CEO Tim Cook discusses his ownership of #Bitcoin and crypto, three years ago
They currently have $162 billion in cash today
pic.twitter.com/tiW3EzWDAh
— The Bitcoin Historian (@pete_rizzo_) November 8, 2024
Although Tim Cook is open to cryptocurrency, Apple remains cautious in its approach. He noted that there are no immediate plans for Apple to use Bitcoin or other cryptocurrencies for payment, which aligns with the company’s dedication to maintaining customer privacy and security.
Cook Joins the Ranks of Business Leaders in Crypto Investment
Tim Cook is among a growing list of prominent business figures who are investing in cryptocurrencies. Notably, Elon Musk, founder of Tesla and X/Twitter, has been an outspoken supporter of cryptocurrencies like Dogecoin.
Currently, Musk’s Tesla accepts payments in Dogecoin along with other meme currencies. Additionally, former Twitter executive Jack Dorsey has incorporated Bitcoin into Square’s accepted payment methods.
This trend highlights an increasing connection between business leaders and crypto/blockchain technology. While excitement from some executives is evident, many companies continue to exercise caution, reflecting a balance between innovation and security.
Image credit: Michel Porro | Getty Images, chart source: TradingView