Tim Cook reveals he personally owns Crypto at the DealBook conference. He said that he has been interested in it and researching it for a while. All his opinions are from a personal point of view, and he doesn’t represent Apple here in his choices. He even dismissed the idea of Apple accepting Crypto or buying it with the company’s treasury like Tesla.
What impact does it have on the crypto market?
While Tim Cook’s statement didn’t have any significant impact on the market like Elon’s statement does, we are still bullish. The statement is very clear that almost everyone be it a small investor or the CEO of Apple, is getting Crypto. And Tim’s outlook on Crypto staying positive could also be good overall for Apple’s crypto ventures. In the future, we could see Apple investing in Crypto or announcing related products too.
Tim believes that owning Crypto is very reasonable by keeping it as a part of a diversified portfolio. He also made it clear that the investment he made in Crypto is not advice for others to do the same. His idea is that people don’t buy Apple’s stock to get exposure to Crypto, and therefore, he doesn’t it think it makes sense to buy it with the company’s funds.
Apple and Crypto
Apple and Crypto, these two words don’t bode that well. In the initial days of Crypto, the company used to ban cryptocurrency apps from their platform. And now to they haven’t shown an intention to do something substantial in the space. It is clear that the company is taking it slow and isn’t going to offer crypto services or add them to their treasury anytime soon. But, yes, there is a big but, we should note that Tim’s liking for Crypto does keep the door open for Apple.
If other major companies like Amazon, Meta (Facebook), and even Google invests and hold Crypto as part of their treasury, then Apple might too. And if it announces any such thing, there is going to be a huge jump in crypto prices.
What are your thoughts as Tim Cook reveals he personally owns Crypto? And do you think this means there is a slight possibility that Apple will buy Crypto in the future? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.