Apple's Tim Cook owns crypto

Apple CEO disclosed that he owns crypto, but his investment is a matter of "personal interest" rather than indicative of Apple's intentions.

Apple's Tim Cook owns crypto

Apple CEO Tim Cook has disclosed that he owns crypto, but that investment is a matter of "personal interest" rather than indicative of Apple's intentions.

Cook divulged his personal crypto investment in a recorded interview with Andrew Ross Sorkin. Sorkin made these comments during the New York Times DealBook conference.

Cook replied, "I own bitcoin and ether." I think it makes sense to own them as part of a diversified portfolio."

According to Cook, Apple does not plan to accept crypto payments anytime soon, not because he would not invest his own money, but because people do not buy Apple stock to gain exposure to crypto.

Twitter was ablaze with discussions about Cook's crypto comments. Michael Saylor, CEO of MicroStrategy, tweeted that if Apple upgraded its iPhone to support Bitcoin and converted its treasury to a Bitcoin standard, it would generate billions for shareholders.

Apple does not offer any crypto products or services at the moment. A job posting for Apple's payments unit early this year indicated a crypto-savvy individual would be in charge of partnerships.

Apple's stock was valued at $750 million at the time Cook received 5 million shares in August. By 2026, he will receive additional grants of Apple stock, whose number will depend on the stock's performance. His stated intention is to donate all his wealth to charitable causes.

A crypto product or service is not available from Apple at this time. The app store does permit crypto wallets, but it also prohibits Crypto mining apps.