Tim Cook Says Apple Is ‘Looking Into’ Cryptocurrency

Earlier this year, a job listing from Apple suggested that the company was interested in getting into cryptocurrency, or at least offering support for it. Now in an interview with Andrew Ross Sorkin as part of The New York Times DealBook online conference, Apple’s CEO Tim Cook confirmed as much.

According to Cook, he did confirm that crypto is something that Apple is looking into, but it isn’t necessarily something they have any immediate plans for. “It’s something we are looking at, it’s not something we have immediate plans to do. I would characterize it as there are things that I would not do like our cash balance. I would not go and invest that in crypto not because I would not invest my own money in crypto, but because I don’t think people buy Apple stock to get exposure to crypto.”

He adds, “So if they want to do that, they can you know, invest directly in crypto through other means. And so I would not do that. I’m not planning to in the immediate future to take crypto for our products.” As it stands, Apple does not officially support crypto, although if you recall, earlier this year through BitPay, Apple Pay users could use any cryptocurrencies they have to make purchases.

Cook’s statement isn’t the first time that it was revealed that the company was interested in crypto. Back in 2019, Apple Pay VP Jennifer Bailey had also expressed interest and said that they saw long-term potential, but exactly how this will manifest in a product or service remains to be seen.

Tyler Lee
Categories: Apple, General
Tags: cryptocurrency