Apple Tim Cook bitcoin ether

Apple Accepts ‘Rat Poison’? CEO Tim Cook Owns Bitcoin, Ethereum, Explores NFT

Apple Tim Cook bitcoin ether
Apple explores accepting ‘Rat Poison’ – what Warren Buffett referred to as bitcoin. Apple is looking into crypto and NFT features. And, CEO Tim Cook discloses that he personally owns bitcoin and ether.

At the DealBook conference, Cook said he has been looking into cryptocurrencies for a period of time. Moreover, he personally holds bitcoin (BTC) and ether (ETH).

“I think that in a multi-asset investment portfolio, allocating part of the assets in crypto is reasonable. Of course this is not investment advice,” said Cook.

On the other hand, Cook finds NFTs “interesting”. But he believes NFTs will “take a while to play out in a way that is for the mainstream person.”

This May, Apple publicly recruited crypto experts to participate in the development of Apple’s “alternative payments”. This led to market expectation that Apple would support crypto payments in Apple Pay.

Bitcoin, Ether: Not ‘Rat Poison’ Anymore?

The Apple CEO confirms that they are looking at crypto-related products. “There are other things that we are definitely looking at” when it comes to crypto, according to Cook. But he did not disclose any specific plans.

Multiple US listed companies — such as Square, PayPal — use company funds to buy bitcoin as investment reserves. Yet, Cook confirms Apple will not use company funds to buy and hold cyrpto. “I don’t think people buy an Apple stock to get exposure to crypto,” said Cook.

What’s more interesting is that Cook would contradict Warren Buffett – Apple’s major shareholder – in the stance towards crypto.

Investing guru Warren Buffett and Charlie Munger head Berkshire Hathaway, Apple’s second largest shareholder. However, Buffett and Munger are outspoken opponents of bitcoin, criticizing bitcoin for its value for years.

In 2019, Buffett described bitcoin as a “worthless delusion” and “rat poison”. This May, Munger called bitcoin “disgusting and contrary to the interests of civilization.

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