After he was asked at a conference if he owns bitcoin or ethereum, Cook declared: “I do. I think it’s reasonable to own it as part of a diversified portfolio,” and he added “I’m not giving anyone investment advice by the way.”
The tech giant’s CEO said that he had been interested in crypto “for a while” and that he had been researching the topic, but he clarified that his interest was from a “personal point of view” and that investing in cryptocurrencies was done only from a personal level. He also explained that these purchases in digital assets were ruled out at Apple, for now.
“I wouldn’t invest in cryptocurrencies (from Apple), not because I wouldn’t invest my own money, but because I don’t think people buy Apple shares to expose themselves to cryptocurrencies,” Cook said.
This way, he dismissed suggestions that Apple might take cryptocurrency in exchange for products as tender. He also rejected the possibility of the company buying cryptocurrency as an investment using corporate funds.
Last August, Cook received 5 million shares of Apple stock that were worth US$750 million at the time and he will get additional grants of Apple stock through 2026, depending on Apple stock performance.
Apple shares are up 5% over the last month and are currently trading at US$150.81. The company, founded by Steve Jobs and Steve Wozniak in 1976, has a market cap of US$2.474 trillion. This makes Apple the world’s second most valuable company by market cap, beaten only by Microsoft.