6 months ago

Tim Cook is into crypto, but Apple isn’t buying Bitcoin

It was this week that Tim Cook revealed during an interview that he owns crypto. It remains a secret that cryptocurrencies have caught the interest of Apple’s CEO. What has been more important to many analysts is the question of whether Apple is going in, finally investing in Bitcoin. Apparently, this won’t happen in the near future, but Mr Cook revealed a couple of interesting things that are hinting that Apple has other plans with crypto.

A decent man

While Elon Musk was enjoying himself on Twitter this year the public learned one thing. A market can go completely nuts if the richest man on earth feels like it. The hype created by his tweets about Dogecoin, Shiba Inu and Floki are just a couple of examples.

It is obvious that Tim Cook understands that the world is listing closely if the Apple CEO has something to say. Many investors and crypto enthusiasts would love to hear which coins are part of his portfolio. But Cook remained decent and did not mention any particular coins. According to the interview he holds some crypto and thinks that holding is a good method to diversify a portfolio.

Apple won’t buy Bitcoin

While the CEO of Apple holds crypto and is interested in it for quite some time, he turned down high hopes that Apple could invest in Bitcoin. He doesn’t believe that Apple shareholders are looking for exposure to Bitcoin when holding Apple stock.

But this is doesn’t mean that Apple is not actively looking at Bitcoin and other cryptocurrencies and how to make use of them and the blockchain technology. Mr Cook did not elaborate what kind of aspect or use-case is on Apple’s wish list. But the company published a job advertisement in May and was looking for a candidate with thorough experience with cryptos. The ad lead to the conclusion that Apple might be planning to use crypto as an alternative payment method and was therefore looking for somebody to get the necessary business development done.

Given the fact that PayPal, VISA, and Mastercard made their moves and are accepting or using crypto and stablecoins, Apple is comparatively late to the party. The iPhone is one of the most popular devices in the whole world making Apple Pay available to the masses. Of course, it is pure speculation, but it wouldn’t be a surprise if Apple is going to extend its payment service with crypto as an option in the near future.

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