Apple CEO Tim Cook Says He Holds Crypto

Today, at the New York Times DealBook Online Summit, CEO of Apple Tim Cook stated his personal opinions about owning crypto. 

“I think it’s reasonable to own it as part of a diversified portfolio,” he said.

The CEO also confirmed that he personally owns crypto, though explicitly stated that this is not investment advice but his personal opinions in regards to his own portfolio.

Furthermore, the company Apple does not have any holdings in crypto, nor does Apple have any plans to join the countless companies that have already added crypto to their portfolio.

However, “there are other things that we are definitely looking at,” said Cook.

Cook’s comments are just the latest in crypto’s entrance into the mainstream. And given his position at the head of the world’s second most valuable company, many in the business world are watching closely. 

The shift to cryptocurrencies among traditional financiers could be attributed to the effects of the ongoing COVID-19 pandemic, large stimulus packages from central banks, and a decrease in government trust. Many corporations accelerated this trend by making headline investments in Bitcoin, amid the weakening of the taboo of crypto.

In August 2020, MicroStrategy invested $425 million dollars into Bitcoin, and now holds around 114,042 BTC — valuing over $7 billion — at the time of writing.  

Companies like Tesla, Coinbase, and Square also have significant crypto holdings ranging from over 42,000 BTC to 4,000 BTC. 

According to Buy Bitcoin Worldwide, the top 10 companies that own Bitcoin start at just under 4,000 BTC and range over 114,000 BTC, showing that the ice around the stigma of Bitcoin and crypto as a whole is thawing, potentially for good.