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Tim Cook revealed in an interview on Tuesday that he owns cryptocurrency and sees it as a “reasonable” way to diversify his portfolio. The Apple CEO also admitted that Cupertino is “looking at” ways cryptocurrency could one day work with Apple Pay, or be used to buy Apple products.
However, if it’s investment advice you’re after, you can look elsewhere.
You might have heard a lot about investing in cryptocurrency these past few years. If you’re unfamiliar with what cryptocurrency actually is (or what it does), it operates like most currency — except it’s a digital asset people use for both investments and online purchases.
Could an Apple cryptocurrency be coming? While it doesn’t sound like it’s on the immediate horizon, Apple Pay VP Jennifer Bailey recently suggested it’s not totally off the table.
It would fit with Apple’s growing embrace of financial services. The company got into mobile payments with Apple Pay in 2014 and released the Apple Card this year. Now, Cupertino appears to be taking a wait-and-see approach on cryptocurrencies.