Apple CEO Tim Cook reveals he owns a cryptocurrency

Apple CEO Tim Cook reveals he owns a cryptocurrency - shutterstock 1069919405 3122651 20211109181806On Tuesday, Apple CEO Tim Cook said he personally owns a cryptocurrency at the New York Times' DealBook online conference. Responding to Andrew Ross Sorkin, who hosts the NYT's two-day online summit, Cook shared his thoughts on the burning topic of cryptocurrencies like Bitcoin.

"I'm doing. I think it's reasonable to own it as part of a diversified portfolio, ”Cook told Sorkin in a taped interview, CNBC reported. "By the way, I'm not giving anyone investment advice."

Investing in Apple stocks or cryptocurrencies?

Cook said he has been interested in cryptocurrency for a while and has done research on the subject.

He explained that Apple is "looking" at cryptocurrencies, but has no immediate plans to roll that feature into Apple Pay. He also said that unlike Tesla, Apple does not plan to invest in cryptocurrencies as a company because it believes AAPL shareholders do not buy. Apple shares to gain exposure to cryptocurrencies.

Cook also said Apple has no plans to accept cryptocurrencies for its products. He also said that NFTs - non-fungible tokens - are an "interesting" part of the cryptocurrency world.

During the conference, Cook also defended Apple's App Store commission rate, saying that most developers are charged a 15% reduction instead of the entire 30%. He said, however, that further changes will be made to the App Store in the future. It also said that users who want to sideload (install apps from the web or elsewhere instead of via the App Store) can purchase an Android device instead of an iPhone.

When asked about Meta Platforms Inc. and its push to the metaverse, Cook said augmented reality remains a core technology for Apple.

All for charity 

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

Bitcoin and Ether hit record highs on Tuesday, with enthusiasm for cryptocurrency adoption and concern about inflation driving momentum and flows in the asset class.

Although both virtual currencies retreated from their highs in the US session, their trajectory was clearly upward.

Bitcoin climbed to $ 68.564,40 and fell 0,1% to $ 67.325 while Ether, the second-largest cryptocurrency by market value, previously reached $ 4.842,65 before plunging 0,7% to $ 4.774. . Both have more than doubled since June and have gained nearly 70% against the dollar since the beginning of October.