Tim Cook declares that he owns bitcoin and has been ‘interested in it for quite some time.’

Cook stated that he had been “interested in cryptocurrency” for “some time” and had conducted research on the subject.

Apple CEO Tim Cook confirmed on Tuesday that he personally owns cryptocurrency after being asked whether he owned bitcoin or ethereum at the DealBook conference.

“I am. Cook told Andrew Ross Sorkin in a recorded interview, “I believe it is reasonable to purchase it as part of a diversified portfolio.” “By the way, I am not providing investment advice to anyone.”

Cook stated that he had been “interested in cryptocurrency” for “some time” and had conducted research on the subject. Cook, though, stated that his interest stems from a “personal standpoint” and denied ideas that Apple may accept cryptocurrency as payment for items.

Cook also ruled out the notion of Apple investing in bitcoin using corporate funds “I would not invest in cryptocurrency, not because I would not invest my own money, but because I believe that people do not buy Apple stock in order to gain exposure to cryptocurrency,” Cook stated.

Cook received 5 million shares of Apple stock in August, valued at $750 million at the time. He will also receive additional awards of Apple stock through 2026, the number of which will depend on the company’s stock performance. He has stated that he intends to devote the entirety of his riches to charity.

On Tuesday morning, bitcoin and ether reached new all-time highs. Apple currently does not offer any cryptocurrency-related products or services. It does accept crypto wallet applications on the iPhone App Store, but not mining applications.

Apple’s Wallet App now offers financial services such as contactless Apple Pay, peer-to-peer payments, and the Apple Card credit card.

Apple may develop cryptocurrency-related products or services in the future, but they will be many years away. In 2019, an Apple Pay executive stated that the business considered bitcoin as having “long-term promise.”

Cook stated on Tuesday that while Apple is investigating cryptocurrency technology, it is “not something we are planning to pursue in the near future.”

Also Read: The Governor Of The Bank Of England Expresses Concern Over The Use Of Cryptos For ‘Illegal Conduct’