Tim Cook owns cryptocurrency; lays down Apple’s plans to accept crypto

After Elon Musk, cryptocurrency has found a new backer in the US entrepreneurial system. Apple CEO Tim Cook recently revealed he has personally invested in cryptocurrency and that he thinks it is reasonable to own it as part of a diversified portfolio.

“I do. I think it is reasonable to own it as part of a diversified portfolio and I’ m not giving anybody investment advice, by the way,” Cook told Andrew Ross Sorkin at the New York Times’ Dealbook Conference. Cook added that he has been interested in and has been researching about crypto for a while. He, however, didn’t tell which currency he has invested in.

The CEO of the $2 trillion megalith also talked about NFTs (non-fungible tokens) and said that he finds those interesting. The Apple boss also underscored that “it will take a while to play out in a way that is for the mainstream person.”

Cook also talked about Apple’s plans to accept crypto as a mode of payment, adding these services may not be launched immediately. He also laid down the areas of Apple business where he won’t like to consider crypto payments.

“I would sort of characterise it as there are things I wouldn’t do – like our cash balance. I wouldn’t go invest that in crypto – not because I wouldn’t invest my own money in crypto – but because I don’t think people buy an Apple stock to get exposure to crypto. And so, if they want to do that, they can invest directly in crypto through other means,” he said.

Besides his interest in crypto, Cook also commented on installing apps using sideloading. “If you want to sideload, you can buy an Android phone. That choice exists when you go into the carrier shop. If that’s important to you, then you would buy an Android phone. It’s just too risky to do that. It wouldn’t be an iPhone if it didn’t maximise security and privacy,” he noted.

Also read: Meme coins like Shiba Inu and Dogecoin can be compared to MLM scams, says Vikram Subburaj of Giottus Exchange

Also read: Cryptocurrency prices today: Bitcoin rises over 4%; Ethereum, Dogecoin & Litecoin gain up to 18.7%