Speaking at the DealBook conference yesterday, the CEO, who took over from Steve Jobs in 2011, stated he owned cryptocurrency. He admitted he had an interest in the market, adding he had researched the topic. Mr Cook said he believed it was “reasonable” to own as “part of a diversified portfolio”, but stopped there.
Will Apple allow cryptocurrency payments?
The tech world is currently leading the way towards normalising cryptocurrency payments, with several organisations either integrating the option or working their way towards it.
Facebook operators Meta is amongst companies that have recently committed to upholding virtual transactions, specifically citing Ethereum.
Apple, on the other hand, seems less willing to embrace the market just yet.
The reason his company is not following others, he said, is because of investors.
He explained he didn’t think people who buy Apple stock “get exposure to crypto”.
Experts believe there would be a good reason for Mr Cook to lead by example.
Freddie Evans, a sales trader at UK-based digital asset broker GlobalBlock, said the CEO could ignite interest among people yet to dip their toes into the crypto market.
He said it was “certainly helping underpin the recent strength in digital asset markets”.
Apple as a company has, so far, has not proven entirely against the concept of cryptocurrency.
While it doesn’t support tokens on its payment services, it does allow some apps on the iPhone App Store.
People can download wallet apps via the service, but Apple draws the line at those used for mining.