Today, Apple is the second-biggest company by market cap in the world behind Microsoft, with Tim Cook worth more than $1 billion. The Apple chief executive officer confirmed that he owns some cryptocurrency as “part of a diversified portfolio.” However, he is not ready to let the tech firm follow Tesla’s example by investing in Bitcoin or any other tokens.
While speaking at the New York Times’ DealBook Online Summit on November 9, 2021, Cook stated that he would not use the firm’s nearly $200 billion in cash on hand to dive or invest in any cryptos. Also, he never intends to accept cryptos as a means of payment for Apple products “in the immediate future.”
Tim Cook said:
“It’s not something we have immediate plans to do. I don’t think people buy Apple stock to get crypto exposure. If they want to do that, they can invest directly in crypto through other means.”
Nonetheless, the top executive who has a personal net worth of more than $1 billion agreed to own some cryptocurrency. He mentioned that he has crypto in his portfolio when he was asked about investing in Ether (ETH) and Bitcoin (BTC)::
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“I’ve been interested in [crypto] for a while. I’ve been researching it and so forth… I think it’s interesting.”
Tim Cook Statement Is A Surprise
Tim cook’s statement might come as a bit of a surprise to most in the crypto industry, given that the CEO has majorly not taken any public position on the digital assets despite controlling one of the biggest firms in the world. Based on data acquired from AssetDash, Apple is now the second most valuable firm behind Microsoft. It has a market capitalization of over $2.4 trillion.
Some of the major tech CEOs like Tesla’s Elon Musk have been quite vocal when expressing their opinions on cryptocurrency. Interestingly, Elon Musk might have contributed to the price of the flagship asset and that of Dogecoin (DOGE) recording massive volatility in response to his social media posts and business decisions made at Tesla.
This week, he sold off 10% of his Tesla stock to fulfill the promise he made in response to the results of a Twitter poll.