What Tim Cook has to say about cryptocurrency and Apple’s ‘plans’ for it – Times of India

If there’s one tech CEO who is always — or at least that’s what it seems like — talking about cryptocurrencies then it’s Tesla’s Elon Musk. And on the other end of the spectrum is Apple CEO Tim Cook who has perhaps rarely spoken about it in public. That was until now as the Apple CEO has said that he actually owns cryptocurrencies. In an interview with The New York Times, Cook said that he owns cryptocurrency as it is “reasonable to own it as a part of diversified portfolio”, before adding that he is “not giving anybody investment advice.”
The Apple CEO was asked if Apple had any plans for cryptocurrency. “It’s something we are looking at, it’s not something we have immediate plans to do,” said Cook. He further said, “I would characterise it as there are things that I would not do like our cash balance. I would not go and invest that in crypto not because I would not invest my own money in crypto, but because I don’t think people buy Apple stock to get exposure to crypto.”
He also said that he isn’t planning “to in the immediate future to take crypto for our products. As a mane of tender, but there are other things that we are definitely looking at.”
Cook was also asked about what he thinks of NFTs — non-fungible tokens — that have become quite a rage. Cook said that he thinks that it is an interesting concept. However, he also added that it “will take a while to play out in a way that is for the mainstream person.”
Cryptocurrency hasn’t really become mainstream and still remains banned in many countries across the world. However, companies like Tesla and even Twitter have been talking about it for many years now. Twitter CEO Jack Dorsey often tweets about it and earlier this year said that crypto will be a big part of the company’s future.