Apple CEO Tim Cook Owns Bitcoin And Ethereum — What Does It Mean For Apple’s Balance Sheet?
Apple’s chief executive officer (CEO) Tim Cook owns Bitcoin and Ethereum, but does he plan on adding the popular cryptos to his multi-billion dollar company’s balance sheet?
Covered:
- Tim Cook’s Position On Crypto
- Apple’s Future Plans For Crypto Integration
Tim Cook Owns Bitcoin And Ethereum
During an appearance on CNBC’s Squawk Box, Apple CEO Tim Cook dropped a bit of a bombshell: he holds both Bitcoin and Ethereum. With the tech giant’s position in paving the way for tech innovation, his support of the space further validates cryptocurrency to other institutional players who may still be watching from the sidelines.
The Steve Jobs-successor told Squawk Box co-anchor Andrew Ross Sorkin that he’s been into crypto for a while now and that he owns some personally.
“I do. I think it’s reasonable to own as a part of a diversified portfolio…I’ve been interested in it for a while, and researching it, and so forth. I think it’s interesting.”
Unlike Tesla, however, Cook specifies his view comes from a “personal point of view.” Apple does not plan to invest in cryptocurrency as a company because he doesn’t think Apple (AAPL) shareholders planned to buy AAPL stock to get crypto exposure.
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His support of Bitcoin and cryptocurrency places him among the ranks of other major tech CEOs like Tesla’s Elon Musk, Microstrategy’s Michael Saylor, and Twitter’s Jack Dorsey who have also publicly disclosed their support for the asset class.
Apple’s Future Plans For Crypto Integration
Despite his public acknowledgment, he further clarified that while the company is looking at crypto, it has no immediate plans for integration.
APPLE CEO COOK SAYS NO IMMEDIATE PLANS FOR CRYPTOCURRENCY
APPLE CEO COOK SAYS PERSONALLY INVESTED IN CRYPTOCURRENCIES
— *Walter Bloomberg (@DeItaone) November 9, 2021
This isn’t our first insight into Apple’s position on crypto, however.
Back in May, Apple posted a job listing seeking to hire a proven professional in global alternative and emerging payment solutions. Among the requirements listed for the job, most notably the company was looking for someone with more than five years of experience working in or with alternative payment providers, such as digital wallets, fast payments, cryptocurrency, and more.
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Coinbase also released a blog post in August sharing that the company is introducing new and seamless ways to enable crypto buys with linked debit cards to both Apple Pay and Google Pay.
While no plans are set in stone for Apple, the company has been slowly extending its reach into the crypto space throughout the year. It’s no question now that Cook is warming up to crypto as demand continues to rise from his company’s user base.
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Text source: CryptosRus
