Apple CEO Tim Cook revealed that he has invested in cryptocurrency at the DealBook Online Summit—and Twitter users are excited.
Tim Cook told DealBook’s Andrew Ross Sorkin on Tuesday that he had recently purchased Bitcoin and Etherium. “I think it’s reasonable to own it as part of a diversified portfolio,” Cook said. The CEO went on to explain that he had been researching cryptocurrency and had been interested for a while.
Cook clarified that while he had personally invested in crypto, Apple does not plan to purchase any with its $200 billion in cash. Cook also added that Apple does not have any plans to join big companies who have recently began accepting Bitcoin as payment. Tesla began accepting Bitcoin as payment earlier this year, and bought $1.5 billion worth to hold in its corporate treasury. This came as no surprise, as Tesla CEO Elon Musk is a founder of his cryptocurrency and frequently advocates for others to invest.
Bitcoin price hit a record at above $68,000 earlier on Tuesday.
“I don’t think people buy Apple stock to get exposure to crypto,” he said. “It’s not something we have immediate plans to do.”
Cook ended the crypto conversation by vaguely adding: “There are other things that we are definitely looking at.”
The cryptic statement was enough to send Twitter users into a frenzy, with some theorizing that Apple will definitely incorporate Bitcoin in the future. Others can’t seem to imagine why Cook would personally invest in crypto, but not involve Apple.
Told you all these insiders like Tim Cook were lying to you. HE OWNS CRYPTO AND SO DO ALL OF THEM!! Muahahahahaha!!!!
— Christopher Greene 😎🏝🏜🛩🚤🏄♂️🚀 (@Christopher Greene 😎🏝🏜🛩🚤🏄♂️🚀)
Apple's Tim Cook enters the ring. #Bitcoin https://t.co/yEleMmhV8j