Apple CEO Tim Cook recently confirmed he holds Bitcoin, a revelation that shows his personal interest in cryptocurrency.
Despite this, Cook stated Apple has no plans to integrate crypto into its payment systems or invest any of its $200 billion cash reserves in digital assets.
In an interview with DealBook’s Andrew Ross Sorkin, Cook called holding Bitcoin a “reasonable” decision within a diversified portfolio, though he clarified that this was just his personal choice, not financial advice.
Unlike companies like Tesla, which has both bought and accepted Bitcoin, Apple remains conservative in its approach, with Cook noting that Apple stockholders don’t buy shares for crypto exposure.
Cook’s comments reflect Apple’s cautious stance in a tech industry increasingly exploring crypto.
Although Apple allows cryptocurrency wallet apps on its App Store, the company has no plans to adopt cryptocurrency payments or hold digital assets in its treasury.
While Cook mentioned a casual interest in NFTs, he dismissed any notion of being a “crypto bull.”
This stance is notably different from competitors who have shown a willingness to embrace cryptocurrency.
Cook’s perspective suggests Apple prefers to keep digital assets as a personal investment, leaving the decision to individuals rather than incorporating it into corporate strategy.
Bitcoin has been surging in value, recently nearing $82,000, with major buyers, known as “whales,” making large purchases.
According to data from Arkham’s on-chain analytics, there’s been an uptick in large-scale Bitcoin transactions in recent days. High-net-worth investors are actively buying, with notable purchases, including one investor’s $92 million Bitcoin buy-in on November 7.
In the past week alone, Arkham tracked 144 transactions over $100 million each, highlighting the significant interest from large investors as Bitcoin rallies. This trend could signal bullish expectations within the market, even if major corporations like Apple remain on the sidelines.
