Few statements are so powerful that it could make or destroy companies. The stock market as well as crypto market dance on the tweets of Elon Musk. And now crypto owners and investors ra expecting similar response from the market after the recent revelation of Tim Cook.
Apple CEO Tim Cook stated in an interview that he owns cryptocurrency. This was after being asked this question at the DealBook conference.
When countered with the question “Do you own crypto, any bitcoin or Ethereum and play around with this?“
“I do,” Tim Cook replied spontaneously.
Cook stated that he believes it is reasonable to have it as part of an investment portfolio. “I am not giving investment advice to anyone by the way.”
Cook said that he was interested in cryptocurrency for a while and had been doing research on it. Apple’s big boss, however, reiterated that his interest in cryptocurrency is solely from a personal point of view. The company has no plans to join the Bitcoin bandwagon.
“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 clarified killing any possible speculation about Apple’s investment in cryptocurrency.
Cook was also asked whether he would like to be called a Bitcoin bull. Cook dodged the question, saying that he didn’t want to label it but that Bitcoin is definitely something he is interested.
While having the discussion Cook made it clear that adding Bitcoin services to Apple products and accepting BTC payments are not a part of Apple’s immediate plans. At the same time he stated that crypto is “something that we’re looking at.
Steve Wozniak, Apple’s co-founder, was more bullish about Bitcoin than Cook in October. He stated that ” Bitcoin” is “mathematically pure” and that there can never be another Bitcoin.
The after effects of Tim Cook’s statement was quite obvious. The market saw the jump in the valuation of leading cryptocurrency. Today Bitcoin touched $68,519 while Ethereum peaked at $4,836. Traders are expecting to see a signifiant jump in the price of Bitcoin and Ethereum as the news about Cook’s interest in crypto spreads like a wild fire.
