Tim Cook dinner says he owns cryptocurrency and he is been ‘considering it for some time’

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Apple CEO Tim Cook dinner

Michel Porro | Getty Pictures

Apple CEO Tim Cook dinner mentioned he personally owns cryptocurrency on Tuesday after he was requested on the DealBook convention if he owns bitcoin or ethereum.

“I do. I believe it is cheap to personal it as a part of a diversified portfolio,” Cook dinner informed Andrew Ross Sorkin in a recorded interview. “I am not giving anybody funding recommendation by the way in which.”

Cook dinner mentioned that he had been considering cryptocurrency “for some time” and that he had been researching the subject.

Nonetheless, Cook dinner mentioned that his curiosity was from a “private viewpoint” and dismissed strategies that that Apple would possibly take cryptocurrency in alternate for merchandise as tender.

Cook dinner additionally rejected the opportunity of Apple shopping for cryptocurrency with company funds as an funding.

“I would not go put money into crypto, not as a result of I would not make investments my very own cash, however as a result of I do not assume individuals purchase Apple inventory to get publicity to crypto,” Cook dinner mentioned.

In August, Cook dinner received 5 million shares of Apple inventory price $750 million on the time. He’ll get extra grants of Apple inventory through 2026, of which the variety of shares of will depend on Apple inventory efficiency. He has mentioned he plans to donate his total fortune to charity.

Bitcoin and ether hit all-time highs on Tuesday morning.

Apple would not at present have any cryptocurrency services or products. It does enable crypto pockets apps on its iPhone App Retailer, nevertheless it additionally prohibits mining apps.

Apple has launched monetary companies via its Pockets App, which incorporates contactless Apple Pay, peer-to-peer funds, and the Apple Card bank card.

If Apple does introduce cryptocurrency services or products, they’re a few years away. An Apple Pay govt mentioned in 2019 mentioned that the corporate noticed “long-term potential” in cryptocurrency.

Cook dinner mentioned on Tuesday that whereas Apple was cryptocurrency know-how, it is “not one thing we’ve got fast plans to do.”