Apple CEO Tim Cook and Elon Musk move financial markets

Apple CEO Tim Cook recently announced that Apple may become more deeply invested in the cryptocurrency space. Apple would be a huge player in this market and would likely push the prices of Bitcoin, Ethereum and other cryptos up even further.

According to CNBC, Cook and Apple have an interest in crypto, but he says he would not invest corporate funds into it:

Apple CEO Tim Cook said he personally owns cryptocurrency after he was asked at The New York Times DealBook conference if he owns bitcoin or ethereum.

“I do. I think it’s reasonable to own it as part of a diversified portfolio,” Cook told Andrew Ross Sorkin in an interview that aired Tuesday. “I’m not giving anyone investment advice by the way.”

Cook said that he had been interested in cryptocurrency “for a while” and that he had been researching the topic.

However, Cook said that his interest was from a “personal point of view” and dismissed suggestions that Apple might take cryptocurrency in exchange for products as tender.

Cook also rejected the possibility of Apple buying cryptocurrency with corporate funds as an investment.

“I wouldn’t go invest in crypto, not because I wouldn’t invest my own money, but because I don’t think people buy Apple stock to get exposure to crypto,” he said.

In August, Cook received 5 million shares of Apple stock worth $750 million at the time. He will get additional grants of Apple stock through 2026, of which the number of shares of depends on Apple stock performance. He has said he plans to donate his entire fortune to charity.

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