In a new interview, Apple CEO Tim Cook has revealed that he personally holds Bitcoin and Ethereum. He also believes that it is reasonable to own cryptocurrencies as part of a diversified portfolio. Here is everything else the influential tech executive had to say about the asset class and why this could be enormous for crypto.
Tim Cook Owns Crypto: Bitcoin And Ethereum
Bitcoin is on the brink of becoming a mainstream asset, and the head of the long time most valuable company in the world (only recently unseated by Microsoft) just told the world he owns some. Ethereum was also included in the list of assets he agreed to when asked if he held some, to which Apple CEO Tim Cook responded with “I do. I think it’s reasonable to own it as part of a diversified portfolio.”
He made sure to point out he wasn’t giving out any “investment advice” but had been interested in the technology for “a while.” After researching it a bit, simply put, Cook thinks “its interesting.”
Related Reading | deVere CEO: Bitcoin Cemented As “Mainstream,” “Investors Should Consider” Crypto
Cook’s comments say nothing about any plans Apple has related to cryptocurrencies but given the interest, anything is possible long term as the asset class continues to gain mainstream acceptance.
Apple co-founder Steve Wozniak is also a fan of cryptocurrencies, having in the past revealed he owned BTC and ETH.
Bitcoin continues to grow | Source: BTCUSD on TradingView.com
Comparing Apples To Orange Pills
Apple as a company hasn’t been overly friendly with cryptocurrencies, at several points in the past removing crypto related apps from the Apple App Store. Past experiences the company has had haven’t always been positive. For example, the first tweet the official Apple account ever made, was to promote a Bitcoin scam as part of a wider Twitter hack.
Still, Apple could be a massive catalyst for rapid crypto adoption, if only it somehow integrated support for the technology into its native OS, similar to what Samsung has done with its blockchain keystore app.
Related Reading | Coinbase To Power Social Giant Facebook’s New Novi Crypto Wallet
Apple has sold billions of their flagship iPhone, which could – with the push of an iOS update – put a crypto wallet in the hands of just as many users. The company also could potentially integrate cryptocurrencies into its Apple Pay functionality, making it easier to spend and use coins as currencies.
Apple could also some day launch a decentralized app store offering direct native connection from the iPhone’s crypto wallet to platforms like Uniswap and more.
Of course, we’re getting ahead of ourselves and this is only a revelation that Apple CEO Tim Cook owns some BTC and ETH – but that fact alone and the fact he thinks it is “interesting” could lead to more.
Watch the interview excerpt below.
Apple CEO Tim Cook just said he owns Bitcoin and Ethereum.
This shouldn’t surprise anyone that a technologist is interested in new technologies. pic.twitter.com/8vyxjPQST5
— Pomp 🌪 (@APompliano) November 9, 2021
Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice.
Featured image from iStockPhoto, Charts from TradingView.com
