Tim Cook, the CEO of Apple (NASDAQ:AAPL), says he is a crypto investor and that Apple is investigating crypto while adding that they have no immediate plans to utilize crypto. Cook was asked if he was a Bitcoin bull – a question he aptly dodged.
Cook’s statements came during a session today at DealBook, part of NYT.com, where journo Andrew Ross Sorkin queried the tech executive on digital assets.
Cook said he would not make any announcements today and added that they were not planning to accept crypto as payment for Apple’s products. He also said that Apple would not be investing its sizable cash balance into cryptocurrency because he did not believe shareholders do not want Apple to be a crypto proxy.
This is not the first time that Apple has indicated its interest in crypto without indicating any intent on pursuing any sort of crypto-related services. This past spring, it was reported that Apple was looking to hire someone with crypto experience. Apple is already a big player in the Fintech sector with its payments, wallet, and Apple Card in partnership with Goldman Sachs. Apple tends to be a highly secretive firm that attempts to not reveal any actions or products before they officially launch.
Cook was also pushed on the possibility of an Apple Car – a long-rumored project that is said to be called project Titan. Cook, once again, avoided making any statements on the much-rumored vehicle that may set up Apple to compete with Tesla and other electric vehicles.