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Apple's Tim Cook Reveals That The Tech Giant Is Looking Into Crypto

Apple's Tim Cook Reveals That The Tech Giant Is Looking Into Crypto

In an interview today at the NYT Dealbook Conference, Apple’s CEO Tim Cook, confirmed that the tech giant is “looking into” crypto. The CEO then went on to say that the firm has no immediate plans to launch any crypto-related offerings. 

Cook gave no details into the areas of Apple that may start exploring crypto but he did say that there are several areas of the business where he would not consider introducing cryptocurrency offerings. 

When asked if Apple would consider accepting crypto through Apple Pay, Cook replied that crypto is “something that we’re looking at.” Adding that Apple has decided where it will not be introducing crypto despite not yet being ready to speak publicly about possible crypto offerings. 

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Cook explained, “I would sort of characterize it as there are things I wouldn’t do — like our cash balance. I wouldn’t go invest that in crypto — not because I wouldn’t invest my own money in crypto — but because I don’t think people buy an Apple stock to get exposure to crypto. And so, if they want to do that, they can invest directly in crypto through other means.”

Cook also made clear that Apple will not be accepting crypto as a form of payment for its products. He did nod towards crypto being on the tech firm’s radar saying, “there are other things that we’re definitely looking at.”

Cook is an open support of cryptocurrencies, saying in the interview that he himself invests in the assets. Cook explained, ““I think it’s reasonable to own it as a part of a diversified portfolio,” adding , “I’m not giving anybody investment advice by the way.”

Cook said that he has been interested in crypto for some time adding that he also thinks NFTs are interesting. The CEO shared his opinion that NFTs may take a while to play out in a way that is interesting to a mainstream person. 

Ruby Layram

Ruby Layram

Ruby is a writer for Bankless Times, covering the latest news on the cryptocurrency market and blockchain industry. Ruby has been a professional personal finance and investment writer for 2 years and is currently building her own portfolio of altcoins. She is currently studying Psychology at the University of Winchester, specialising in Statistical analysis.