Tim Cook confirms that he has invested in cryptocurrencies

Tim Cook, CEO of Apple Inc., speaks at a dialogue with Qian Ying, dean of the School of Economics and Management (SEM), during the Tsinghua Management Global Forum at Tsinghua University in Beijing, China, 23 October 2014.

Tim Cook attended a dialogue with Qian Ying, dean of the School of Economics and Management, at Beijing’s Tsinghua University on Thursday (23 October 2014). Cook is visiting China, where he has toured Foxconn Technology Co’s iPhone factory in Zhengzhou and looked at local retail operations. On Wednesday, Cook met with China’s Vice Minister Ma Kai, where the two exchanged views on “protection of users’ information” as well as “strengthening cooperation,” according to the official Xinhua News Agency. The Apple chief also said the company is cooperating with Chinese firms including Baidu Inc and Alibaba Group Holding Ltd. Cook also said he will meet with Jack Ma, Alibaba’s chairman, on next Monday.

Tim Cook also made investments in cryptocurrencies. The confirmation came directly from Apple’s CEO. In fact, during a conference, Cook was asked if he owned Bitcoin or Ethereum. Without turning too much around the question, the number one of the Cupertino house confirmed that he had invested in cryptocurrencies. According to Cook: “it is reasonable to own cryptocurrencies to diversify your investment portfolio”.

Tim Cook has invested in cryptocurrencies

Regarding cryptocurrencies, however, Tim Cook has specified that he does not want to provide investment advice. The manager has long said he was interested in the world of cryptocurrencies which also prompted him to carry out some research on the subject. Cook’s interest in cryptocurrencies doesn’t lie with Apple. The CEO specified that his research concerns personal investment solutions. For the moment, Apple is not involved in the cryptocurrency sector.

Do you buy Apple products in cryptocurrencies? No

Cook confirmed that he is not interested in introducing the ability to purchase Apple products and services through cryptocurrencies. The manager confirmed that, for the time being, Apple has no interest in the cryptocurrency industry and will not introduce any related technology.

Tim Cook’s interest in the world of cryptocurrencies is therefore purely personal and unrelated to his role as CEO of the Cupertino company. News on the issue could come in the future but, for the moment, from Cupertino we do not look at cryptocurrencies as a new business opportunity.