Even Apple’s Tim Cook owns cryptocurrency, he confirms
Crypto enthusiasts may take a little heart as Apple CEO Tim Cook adds his name to the list of Silicon Valley bigwigs who own a little cryptocurrency.
Does Tim Cook HDOL?
Cook made this admission at the DealBook conference, and while he doesn’t intend for Apple to invest in crypto, he explained that he’d been interested in these alternative currencies “for a while” and has researched the topic.
He may have a personal position but explained why he wouldn’t have Apple invest in the same thing. “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.
Cook was speaking in a recorded interview with Andrew Ross Sorkin that was made available as part of the conference.
He described ownership of crypto as “reasonable” as part of a diversified investment portfolio, but in typically disparaging Tim Cook fashion, added, “I’m not giving anyone investment advice, by the way.”
Tim Cook of Apple reveals that he has personally invested in cryptocurrency. “I think it’s reasonable to own it as part of a diversified portfolio,” he said at the #DealBook Online Summit. https://t.co/xpahdlKfOe pic.twitter.com/CQpQgShu0x
— DealBook (@dealbook) November 9, 2021
Apple does monitor cryptocurrency, but doesn’t support mining apps at the App Store and offers no crypto trading products or services of its own. In 2019, Apple Pay VP, Jennifer Bailey did say the company sees “long-term potential” in cryptocurrency.
When asked, Apple’s boss once again confirmed that he has never spoken to another big crypto fan, Elon Musk. “I’ve never spoken to Elon,” he said.
Sideloading? ‘Get an Android’
A conversation concerning side loading also cropped up. Cook rejects the notion as making its products less safe. “It wouldn’t be an iPhone if it didn’t maximize security and privacy,” he said, instead pointing out that if people want to side load apps they can, using an Android device. “If that’s important to you, then you should buy an Android phone,” he said.
Life beyond crypto
Cook made several other points. On mental health he shared his feeling that tech firms have a responsibility to create products that help, rather than damage, mental health. He also warned against “mindless” scrolling of social media.
At the #DealBook Online Summit, Apple’s Tim Cook defends engaging with governments like China accused of human rights abuses: “Being on the sidelines is never a good place, at least for business,” he said. https://t.co/mXcALFsbeS pic.twitter.com/Ay6Pz0vX4l
— DealBook (@dealbook) November 9, 2021
The boss also spoke up for his approach to working with different nations. On China, he said Apple must work to do business as widely as possible, following local laws as it does, but that doesn’t mean it can’t speak against things it doesn’t agree with. “Being on the sidelines is never a good place, at least for business,” Mr. Cook said. “Engagement is the right approach.”
“I belive in world peace through world trade,” he said. “We should be about building the bridges.”
Or, as Winston Churchill once said, “Jaw-jaw beats war-war.”
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