Tim Cook Admits Owning Crypto, Says “Reasonable Holding In A Diversified Portfolio”

Tim Cook Admits Owning Crypto, Says “Reasonable Holding In A Diversified Portfolio”

Apple CEO Tim Cook was interviewed by Andrew Ross Sorkin this morning as part of the DealBook Conference.

He revealed that he owns some crypto personally, says “he’s been interested in it for a while” and “thinks it’s reasonable to own it as part of a diversified portfolio.”

Tim Cook of Apple reveals that he has personally invested in cryptocurrency. “I think it’s reasonable to own it as part of a diversified portfolio,” he said at the #DealBook Online Summit. https://t.co/xpahdlKfOe pic.twitter.com/CQpQgShu0x

— DealBook (@dealbook) November 9, 2021

Crypto responded quickly (after getting hammered briefly before as TSLA shares tumbled).

Bitcoin and Ethereum both bounced back fast…

Cook clarified that his interest was from a “personal point of view” and dismissed suggestions that that Apple might take cryptocurrency in exchange for products as tender.

The tech-giant’s CEO also rejected the possibility of Apple buying cryptocurrency with corporate funds as an investment.

“I wouldn’t go invest in crypto, not because I wouldn’t invest my own money, but because I don’t think people buy Apple stock to get exposure to crypto,” Cook said.

Cook also noted that while Apple was looking at cryptocurrency technology, it’s “not something we have immediate plans to do.”

Tyler Durden
Tue, 11/09/2021 – 10:28

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