Apple may not be offering users the ability to pay with cryptocurrency anytime soon, but its CEO has revealed that he has personally invested in it.
Tim Cook, Apple’s CEO, said at the DealBook Online Summit on Tuesday that he owns the two largest cryptocurrencies, Bitcoin and Ether. “I think it’s reasonable to have it as part of a diversified portfolio,” Cook told DealBook’s Andrew Ross Sorkin, adding that he did not immediately provide investment advice.
The 61-year-old businessman also stated that he has been interested in cryptocurrencies for a while.
However, the billionaire CEO rejected the idea of following the likes of Tesla and MicroStrategy by investing some of Apple’s reserves in crypto assets.
According to Cook, it doesn’t make sense for Apple investors to buy shares of the company for the sake of exposure to the emerging asset class:
“I wouldn’t invest in crypto, not because I wouldn’t invest my own money, but because I didn’t want to think that people were buying Apple stock to get exposure to crypto.”
The Apple boss also stated that the tech giant has no “urgent” plans for crypto.
As previously made headlines, Cook revealed that Apple has no plans to launch its own cryptocurrency in October 2019. Last month, Apple co-founder Steve Wozniak, who has been a vocal Bitcoin advocate for some time, claimed that cryptocurrencies would be banned if they got too big.
Bitcoin and Ethereum prices saw small gains after receiving the much-anticipated approval from Cook.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.