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Apple CEO Tim Cook Has Stated That He Is A Bitcoin Investor

Apple CEO Tim Cook disclosed on Tuesday (9) that he invests in cryptocurrencies like Bitcoin and Ethereum. During a talk with Andrew Sorkin at The New York Times DealBook event, he made the assertion.

His speech promotes the use of Bitcoin as an investment and store of value, which has been a fiercely disputed topic this year due to the high inflation that has occurred in numerous countries, including the United States. BTC is currently trading at $66,800.

While Cook admits that cryptocurrency can be used to diversify a portfolio, he claims that Apple isn’t quite ready for that yet. People, he claims, would not buy the company’s stock to gain exposure to cryptocurrencies.

The DealBook event, which will take place on Tuesday (9) and Wednesday (10) this week, will bring together key people from the sector, including Mary Barra, CEO of General Motors, Matthe McConaughey, Hollywood actor, and Antony Blinken, Secretary of the United States Government.

So far, one of the most talked-about topics has featured Tim Cook, CEO of the world’s largest firm, Apple. When asked if he held cryptocurrencies such as Bitcoin or Ether, Cook said he did and that he had been interested in and investigating them for some time.

“Do you have cryptocurrencies, Bitcoin or Ethereum?”

“I have them, I think it is reasonable to have them as portfolio diversification” he said.

 

Although I have not provided any other information regarding the cryptocurrency, we can presume that it is Bitcoin. After all, in addition to being the world’s largest cryptocurrency, it has also been utilised as digital gold, coveted by those seeking to avoid fiat currency inflation.

However, Tim Cook stated that Apple is not yet ready to purchase cryptocurrencies in order to retain them in the box, like MicroStrategy did. Apple’s CEO believes that individuals would not acquire Apple stock to gain exposure to cryptocurrencies.

“I wouldn’t invest in cryptocurrencies [on behalf of Apple], not because I wouldn’t invest my own money, but because I don’t think people would buy Apple shares to get exposure to cryptocurrencies,”  said Tim Cook.

Furthermore, he added that the corporation has no plans to integrate cryptocurrencies into its business, such as as a form of payment.

Tim Cook’s claim that he owns cryptocurrencies, on the other hand, bodes well for the market. In contrast to Bill Gates, the founder of Microsoft, who stated that he would gamble against the currency if there was an easier way to do so.

Another well-known Apple figure, co-founder Steve Wozniak, is positive about cryptocurrency. He stated in July of this year that “Bitcoin is a mathematical marvel.” He has invented his own cryptocurrency, Efforce (WOZX), which is dedicated to energy efficiency.