Tim Cook says cryptocurrency is something Apple is looking at and that he already owns...

Shawn Knight

Posts: 14,059   +153
Staff member
In brief: Apple CEO Tim Cook on Tuesday said cryptocurrency is something the company is looking at, but not something they have immediate plans to get involved in. They do, however, have ideas about segments they wouldn't want Apple to mingle in.

Cook's thoughts on crypto came during an interview with Andrew Ross Sorkin as part of The New York Times’ DealBook Online Summit.

Elaborating on the topic, Cook said there are things he wouldn’t do with it, such as using Apple’s cash reserves to invest in cryptocurrency. “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.”

If people want to get exposure to crypto, they can invest in it directly, Cook advised.

Cook also said Apple has no immediate plans to accept crypto as a form of payment for its products. When pressed on what sort of things Apple would be interested in getting involved with as it relates to crypto, Cook said they have nothing to announce today.

Sorkin then asked if Cook personally owned any crypto like Bitcoin or Ethereum. The executive said he does, adding that he believes it is reasonable to own as part of a diversified portfolio. “I’m not giving anybody investment advice, by the way,” Cook added.

Delving deeper, Cook said he has been interested in crypto for a while and thinks it is interesting. He also said NFTs are interesting, but believes it could take a while for them to “play out in a way that is for the mainstream person.”

Sorkin and Cook also discussed mental health, augmented reality and the automotive industry during the half-hour interview.

Image credit Karolina Grabowska

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m4a4

Posts: 2,854   +3,634
TechSpot Elite
Hey, something I can agree with him on.

At this point, it is reasonable to invest into crypto as part of your portfolio (as long as you understand the risks).
 

umbala

Posts: 603   +1,007
Homer Simpson: You know, Mr. Burns, you're the richest guy I know. Way richer than Lenny.
Mr. Burns: Oh, yes. But I'd trade it all for a little more.
 
“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.”

Ummm... it's not about giving your shareholders exposure, it's about ensuring the cash in your bank account isn't QE/inflated away to nothing.
 

kiwigraeme

Posts: 992   +743
Just shows you - Apple pretending to be green is a load of hogwash . BC etc uses the same power as say Poland .

Unless he's divorcing all the time - what does he even need money for ?.

If I was in his shoes - I would just hand most of my spare reserves to one of the top fund managers and forget about it . Add in this will safe guard you against inside trading allegations as well.

I really don't get peoples fascination with money after a certain point or comparing yourself to others ( comparison is the killer of joy ) .

No house can compare to nature . eating out in restaurants unless social becomes tiresome .

Flying in a private jet - who cares - more fun swimming in a lagoon , walking in the warm rain, chopping firewood and breaking into a sweat .

A lot of these people are time poor - health and time are the best luxuries.

I can afford to go to x and spend $10000/day - who cares - the hippies were there 40 years ago - walked around naked and spend $5 per day on a cheap cabin , drank freshly squeezed fruit and ate local faire and had a better time

Reminds me of the eighties hearing *****s saying I work hard , I play hard ( I just took that to mean they were a complete **** ) .

People love adventure whether it's doing , watching , reading about . Life's of rich peoples spending opulence gets beaten 1000 times over by japanese school anime
 

Kosmoz

Posts: 582   +1,068
Unless he's divorcing all the time - what does he even need money for ?.
That's how greed and love of money works, the more you have, the more you want more... very, very few rich people stop and say, ok I don't need more, or I can now give half my wealth into good causes and live of the rest.

It's an illusion people that are not rich have in their head, that if they get 1 mil $$$, they would be happy and have enough. It's false and a deceiving though, almost everyone would want more and more and never be satisfied by this thirst and lust for more money...
 

wiyosaya

Posts: 7,520   +6,353
:facepalm: :rolleyes: IMO, its completely unfortunate that some/any people in society worship people such as Cook/Musky/Gates/Bezos like they are Gods when the reality is that they have no clue whatsoever WRT how the rest of society lives nor WRT what is "appropriate" for the rest of society.

I doubt it will ever happen unless the world's dominate economic systems somehow change to be more equitable, however, the world would be a far far far better place if the masses were not bowing before these false idols - IMO.
 

Rayneofpayne

Posts: 502   +415
That's how greed and love of money works, the more you have, the more you want more... very, very few rich people stop and say, ok I don't need more, or I can now give half my wealth into good causes and live of the rest.

It's an illusion people that are not rich have in their head, that if they get 1 mil $$$, they would be happy and have enough. It's false and a deceiving though, almost everyone would want more and more and never be satisfied by this thirst and lust for more money...
More money equals more problems, the problem is the more you have the more hands want to come in and rob you blind.
Draconian is the exact word you are looking for, a Dragon that acts like a tyrant because the hoard they are sitting on isn't large enough.
Not everyone is like that but yeah the majority of what exists now wishes to live lives beyond what they are supposed to, people live life like they have more money than what they actually do and thus always need more to cover up the fact they aren't as rich as they think they are.
Don't pay attention to those "This person is worth this sum of money" It's simply falsely stated garbage with no validity in reality they simply assign what they think a person's worth, many people I know personally that those analysts state this person is worth 150 million have said to me where is it because I sure as hell never seen it even with overstating assets. They cannot figure out where these people get their figures from.
 

Rayneofpayne

Posts: 502   +415
His definition is a person that owns at least one Apple product.
Apple products aren't mainstream, in most markets they don't even crack 50% of their given market, they have about 14-16% of computers(desktop and laptop) worldwide and that figure takes into account legacy devices like Mohave Is so as a company they aren't even mainstream by the slightest definitions even loosely. As usual he is as braindead as his company and the investors that keep that zombie Corp alive through perceptions rather than reality.
 

Kosmoz

Posts: 582   +1,068
Apple products aren't mainstream, in most markets they don't even crack 50% of their given market, they have about 14-16% of computers(desktop and laptop) worldwide and that figure takes into account legacy devices like Mohave Is so as a company they aren't even mainstream by the slightest definitions even loosely. As usual he is as braindead as his company and the investors that keep that zombie Corp alive through perceptions rather than reality.
Don't forget their Zombie Customers. We are in the age of Zombie Consumerism... of everything.
 

DrSuess

Posts: 197   +179
Apple products aren't mainstream, in most markets they don't even crack 50% of their given market, they have about 14-16% of computers(desktop and laptop) worldwide and that figure takes into account legacy devices like Mohave Is so as a company they aren't even mainstream by the slightest definitions even loosely. As usual he is as braindead as his company and the investors that keep that zombie Corp alive through perceptions rather than reality.
Haven't you read a sarcastic comment before?