Tim Cook owns cryptocurrency but says Apple has no plans to integrate it in the near future.

Tim Cook, the CEO of Apple, has indicated an interest in the cryptocurrency market, disclosing that he is a crypto investor himself. The 61-year-old internet mogul expressed his views on cryptocurrencies while speaking at the New York Times DealBook online conference. Cook stated that he has been interested in and exploring the crypto area for some time, despite the fact that Apple has nothing to do with his personal outlook. Apple’s CEO also stated that the business has no immediate intentions to integrate cryptocurrency.

Apple, unlike Elon Musk’s Tesla, would not use its treasury to buy cryptocurrencies, according to Cook, who also dismissed the concept of crypto coins being accepted via Apple Pay anytime soon.

“It’s something we’re thinking about, but it’s not something we’re planning on doing right now.” “I’d characterize it as there are some things I wouldn’t do, such as our cash balance,” Cook explained. “I don’t believe individuals buy Apple shares in order to have exposure to cryptocurrency.” So, if they want to do so, they can invest directly in cryptocurrency through other channels,” he continued.

On Twitter, a video clip of Apple CEO Tim Cook’s conversation with New York Times journalist Andrew Ross Sorkin has been circulating.

According to the Apple CEO, owning cryptocurrencies as part of a diverse portfolio is sensible. This is Cook’s first public appearance on the subject of cryptocurrency.

Apple’s work on cryptocurrencies, on the other hand, has been in the headlines since 2019.

According to a CNN article, Jennifer Bailey, the Vice President of Apple Pay, stated in September 2019 that the iPhone maker is paying attention to the crypto market and sees cryptocurrencies as assets with “interesting long-term potential.”

Apple does not yet offer any cryptocurrency-related products or services, nor does it accept cryptocurrency payments.

Apps for crypto wallets are available on the App Store, however crypto-mining apps are currently restricted.

On a global scale, the cryptocurrency market is rapidly expanding. According to market research tracker CoinGecko, the global value of the crypto market topped $3.007 trillion (approximately Rs. 2,22,79,296 crore) earlier this week.

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