Apple CEO Tim Cook Confirms Holdings of Bitcoin and Ethereum

During a recent appearance on the New York Times' DealBook Online Summit, Apple CEO Tim Cook revealed that he is a cryptocurrency investor and holds Bitcoin and Ethereum.

However, Cook has poured cold water on the idea that the third-largest company in the United States (Apple) would accept cryptocurrencies for iPhone and Mac purchases or invest company assets in Bitcoin. Cook stated that after researching cryptocurrencies, he concluded that they make sense for individuals to hold for portfolio diversification. "I've been looking into this for a while, and I think it's interesting." Cook stated that while a billionaire has his own cryptocurrency holdings, he has no plans to invest Apple's $200 billion in cash in Bitcoin or other crypto assets. "I don't think people are buying Apple stock just for cryptocurrency exposure," he said. Apple will not accept cryptocurrencies for product sales (for the time being).

According to a post on Binance's website, Cook stated that he owns cryptocurrencies such as Bitcoin and Ethereum.