Make this your homepage
Business News
Home > Business News
Tim Cook reveals he owns crypto on a day Bitcoin hits historic $68,000 high
Tim Cook reveals he owns crypto on a day Bitcoin hits historic $68,000 high

New York, Nov 11 (TIWN) Apple CEO Tim Cook has shaken Twitter revealing he personally owns cryptocurrency and has been interested for "a while".

Cook, whose real-time net worth is about $1.4 billion, shot down rumours that Apple is targeting crypto as an investment even as prices for bitcoin and ethereum soared to new record highs.He said Apple has been looking at crypto, but might not offer users a way to pay with it anytime soon. 

Cook was speaking on Tuesday at the Dealbook Online Summit. “I think it’s reasonable to own it as part of a diversified portfolio,” he told DealBook’s Andrew Ross Sorkin – quickly adding that he wasn’t giving investment advice. 

Twitter users saw this as a rare insight into how Cook manages his portfolio, as also revelation that he has done some research on crypto.  Apple has some $200 billion in cash — “I don’t think people buy Apple stock to get exposure to crypto,” he said, and added that his company had no plans to make crypto an accepted method of payment anytime soon. “It’s not something we have immediate plans to do.”  “But never say never,” Cook quipped.

Add your Comment
Comments (0)

Special Articles

Sanjay Majumder Sanjay Majumder
Anirban Mitra Anirban Mitra