Apple CEO Tim Prepare dinner says he owns cryptocurrency

Apple CEO Tim Prepare dinner mentioned he personally owns cryptocurrency after he was requested at The New York Instances DealBook convention if he owns bitcoin or ethereum.

“I do. I feel it is cheap to personal it as a part of a diversified portfolio,” Prepare dinner informed Andrew Ross Sorkin in an interview that aired Tuesday. “I am not giving anybody funding recommendation by the way in which.”

Prepare dinner mentioned that he had been concerned about cryptocurrency “for some time” and that he had been researching the subject.

Nonetheless, Prepare dinner mentioned that his curiosity was from a “private viewpoint” and dismissed recommendations that Apple may take cryptocurrency in alternate for merchandise as tender.

Prepare dinner additionally rejected the potential for Apple shopping for cryptocurrency with company funds as an funding.

“I would not go put money into crypto, not as a result of I would not make investments my very own cash, however as a result of I do not suppose individuals purchase Apple inventory to get publicity to crypto,” he mentioned.

In August, Prepare dinner obtained 5 million shares of Apple inventory price $750 million on the time. He’ll get further grants of Apple inventory by 2026, of which the variety of shares of is determined by Apple inventory efficiency. He has mentioned he plans to donate his total fortune to charity.

Bitcoin and ether hit all-time highs Tuesday morning.

Apple does not presently have any cryptocurrency services or products. It does enable crypto pockets apps on its iPhone App Retailer, nevertheless it additionally prohibits mining apps.

Apple has launched monetary providers by its Pockets app, which incorporates contactless Apple Pay, peer-to-peer funds and the Apple Card bank card.

If Apple does introduce cryptocurrency services or products, they’re a few years away. An Apple Pay government mentioned in 2019 that the corporate noticed “long-term potential” in cryptocurrency.

Prepare dinner mentioned Tuesday that whereas Apple was taking a look at cryptocurrency expertise, it is “not one thing we’ve speedy plans to do.”

Correction: Apple CEO Tim Prepare dinner spoke with Andrew Ross Sorkin in an interview that aired Tuesday. An earlier model mischaracterized the timing.