Apple's Cook Invested in Crypto for Diversification
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Nov. 9, 2021

Apple’s Chief Executive, Tim Cook, personally owns cryptocurrencies as part of a diversified portfolio. The Apple CEO said at the DealBook Online Summit he finds it reasonable to invest in cryptocurrencies even though the Cupertino-based tech giant has no plans to add cryptocurrencies on its balance sheet, The New York Times reports.

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"I think it is reasonable to own it as part of a diversified portfolio," Cook said, adding the company does not want to put its cash balance in cryptocurrencies because he does not think people buy an Apple stock to get exposure to crypto.

Coinbase Now Allows Users to Buy Cryptos with Apple Pay

However, Cook admitted Apple is looking at cryptocurrencies. He also said he has no plans in the "immediate future" to take cryptocurrencies for Apple's products as a mean of tender. Cook hinted there are "other things" that Apple is "definitely looking at," which he declined to elaborate on.

In May this year, Apple published a new job vacancy, according to which, the company was looking for a new business development manager focused on "alternative payments." The candidate should have 5+ years experience working in or with alternative payment providers, such as "digital wallets, BNPL, Fast Payments, cryptocurrency and etc."

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