Cook stated he would not spend the company’s nearly $200 billion in cash on hand in cryptocurrencies while speaking at the New York Times’ DealBook Online Summit on Nov. 9. He also stated that “in the near future,” he would not accept cryptocurrency as a payment method for Apple items.
“We don’t have any imminent intentions to do that,” Cook explained. “I don’t believe individuals buy Apple shares to gain crypto exposure”. They may invest in crypto directly through other channels if they desire to do so”.
When questioned about investing in Bitcoin (BTC) or Ether (ETH), the Apple CEO, who is worth more than $1 billion, claimed he owns some crypto:
“Crypto has always piqued my curiosity. I’ve done a lot of study on it… It’s intriguing”
Many in the crypto community may be surprised by Cook’s remark, given that despite running one of the world’s largest firms, he has mostly avoided taking a public opinion on digital assets. Apple has a market valuation of more than $2.4 billion, according to AssetDash statistics.
Some notable tech CEOs, like Tesla’s Elon Musk, have been outspoken about their views on cryptocurrency. Musk might have influenced the cryptocurrency’s price. As well as Dogecoin (DOGE), which has seen a lot of volatility. As a result of his social media remarks and Tesla’s business actions. In reaction to the results of a Twitter poll, he sold 10% of his Tesla shares this week.