Apple CEO Tim Cook Reveals He Has Invested In Bitcoin And Ethereum
Cook said in a statement to Andrew Ross Sorkin, the interviewer, ¡°I do. I think it¡¯s reasonable to own it as part of a diversified portfolio.¡±
Crypto is the talk of the town. Despite its volatility and uncertainty, people are investing their hard-earned money into a variety of cryptocurrencies and so is Apple CEO Tim Cook.
Reuters
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He revealed this at The New York Times DealBook conference when he was asked if he owns bitcoin or Ethereum -- two of the most popular and valued cryptocurrencies in existence.
Cook said in a statement to Andrew Ross Sorkin, the interviewer, ¡°I do. I think it¡¯s reasonable to own it as part of a diversified portfolio.¡±
Cook, however, strongly emphasized that he is in no way recommending everyone to do the same, ¡°I¡¯m not giving anyone investment advice by the way.¡±
He revealed that he has shown interest in cryptocurrency for quite some time now and has been constantly researching it. He, however, clarified that his interest was purely based on his personal point of view, dismissing the suggestions that Apple, much like Tesla, could one day accept cryptocurrency in exchange for their products.
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Alternatively, he also revealed that Apple isn't thinking of investing in cryptocurrency with corporate funds as an investment. He said, ¡°I wouldn¡¯t go invest in crypto, not because I wouldn¡¯t invest my own money, but because I don¡¯t think people buy Apple stock to get exposure to crypto.¡±
Reuters
Also Read: Tim Cook Earned $750 Million Last Week Through 5 Million Apple Shares
Cook has had a positive year as Apple¡¯s CEO as he received 5 million shares of Apple stock, which at the time was worth a whopping $750 million. He is expected to receive additional grants of Apple stock until 2026. The number of shares will depend on how Apple performs over the years.
Have you made investments in cryptocurrency too? What¡¯s your experience like? Tell us in the comments below and keep reading Indiatimes.com for the latest science and technology news.
