David Edwards
Apple CEO Tim Cook revealed at the DealBook Online Summit that he has personally held Bitcoin for roughly three years. However, he emphasized that his crypto engagement is strictly personal, with no current plans for Apple to adopt or invest in cryptocurrency.
Cook described Bitcoin as “reasonable” within a diversified portfolio but clarified that his comments were not intended as investment advice. He added that while cryptocurrency remains intriguing, Apple remains cautious, with no immediate intent to integrate it into its financial ecosystem or corporate treasury. Cook’s remarks follow reports from Binance that Bitcoin nearly reached $82,000 after a high of $81,846.71, underscoring the cryptocurrency’s continuing volatility and appeal.
Cook’s stance contrasts with other tech leaders who have taken bolder steps. Tesla, for example, not only allows Bitcoin payments for its electric vehicles but also holds a $1.5 billion Bitcoin reserve. Apple, on the other hand, restricts its involvement to offering crypto wallet apps through the App Store, enabling user access without corporate investment. “I don’t think people buy Apple stock to get exposure to crypto,” Cook stated, reinforcing his commitment to traditional shareholder value.
The Apple CEO further noted his interest in NFTs but resisted any labeling as a “crypto bull,” preferring instead to maintain an observational stance as market interest surges.
The recent rally in Bitcoin also reveals significant “whale” activity, where major investors moved substantial amounts of BTC. For instance, on November 7th, a single investor acquired $92 million worth of Bitcoin. This trend was further underscored by a November 8th purchase by four investors, collectively amassing over $145 million in BTC. According to Arkham’s on-chain analytics, the past week alone saw 144 transactions exceeding $100 million, spotlighting sustained large-scale interest despite ongoing market fluctuations.
Amid these market dynamics, Tim Cook’s comments shed light on Apple’s restrained yet observant approach to cryptocurrency, suggesting that while digital assets continue to attract individual interest—even among tech executives—their adoption at the corporate level remains a cautious journey.
