Apple CEO Tim Cook Says He Owns Cryptocurrencies As a Personal Investment

Apple CEO Tim Cook & Berkshire Hathaway CEO Warren Buffett
Apple CEO Tim Cook & Berkshire Hathaway CEO Warren Buffett

Apple CEO Tim Cook announced that he owns cryptocurrency. However, he refused to say which digital token is on his portfolio.

During The New York Times’ Dealbook conference Tuesday, the executive said that he was interested in cryptocurrency for a while to enhance his personal investment portfolio.

Cook also said crypto is “something that we’re looking at” at Apple. However, the company doesn’t have any actual plans to add it as a payment for the moment. Cook said that adding crypto as an apple product isn’t on its plans.

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Cryptocurrencies hit their all-time high

Digital currencies are increasing in popularity and use in recent months. For instance, Bitcoin — the largest cryptocurrency by market value — soared to an all-time high of over $68,000 on Tuesday.

The price increase followed actions from Tesla CEO Elon Musk and Twitter founder Jack Dorsey. In fact, Tesla accepted Bitcoin as a payment method but revoked the decision citing concerns about Bitcoin’s exorbitant consumption of energy.

Meanwhile, major banks started offering cryptocurrencies and crypto-related products to their clients to enrich their investment portfolios.

Nonetheless, the cryptocurrency market is still unregulated. According to the new chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, the crypto space is a “Wild West”. Gary taught cryptocurrency courses at MIT before taking his role his SEC role.

The CEO of Apple also mentioned several topics in the virtual conference on Tuesday. Cook spoke about cryptocurrency, augmented reality and Appe Store and “sideloading”. Sideloading is downloading a 3rd party app that isn’t vetted by Apple. His company argued that these apps can encourage security flaws.