Apple chief executive Tim Cook has gone on record saying he personally owns cryptocurrency. In an interview he said during the DealBook Online Summit on Tuesday Cook responded affirmatively when the host Andrew Ross Sorkin asked’ “Do you own crypto?”
“I think it’s reasonable to own it as part of a diversified portfolio,” Mr. Cook responded.
He was however quick to say that he wasn’t giving investment advice. However, Mr Cook made it clear that He said he had done a bit of research on crypto and has been interested in it for “a while.”
The Growth Of The Crypto Market
Given that the cryptocurrency market capitalization recently surpassed $2.2 trillion, its pretty obvious why many high-profile individuals are taking a keen interest in it.
According to data from Crypto Parrot, 4,908 new cryptocurrencies have launched between September 2020 and September 2021. The cryptocurrency trading simulator notes that within this period, the number of new cryptocurrencies has grown by about 68.75%.
Positively correlated to the growth of the crypto market, is the increased number of investors in cryptocurrency. As it stands, crypto investors are in their millions and there is no doubt that the network will keep growing.
High-Profile Individuals Who Have Invested In Cryptocurrency
Tim Cook is one among the many high standing individuals who have invested in crypto. Others in the list include Elon Musk through his company. Apparently Tesla Motors made among the biggest investments in crypto history. Buying bitcoin worth about $1.5 billion Elon Musk is one of the latest editions to the world of cryptocurrency
American rapper and producer Logic has also made a fortune out of crypto. This famous rhyme-master made a $6million investment in bitcoin just before the currency surged in 2020 Despite receiving some backlash from so-called experts at the time Logic believed his investment would pay off and it did. Shortly after, the value for the coin was around $18,000.
Countless other celebrities are making headway in crypto. In fact, Mariah Carey also just recently announced that she is giving $20 worth of free Bitcoin through her cryptocurrency exchange to encourage her fans to invest in crypto.
Does Tim Cook’s Crypto Ownership Announcement Mean Something For Apple?
Following his revelation, Mr. Cook made it clear that Apple did not intend to incorporate crypto in their operations. Although about 15000 companies globally allow consumers to pay for goods and services using crypto, Apple has no plans to make crypto an accepted method of payment.
“It’s not something we have immediate plans to do,” Cook commented.