Connect with us

Hi, what are you looking for?

Editor’s Pick

Apple’s Tim Cook admits investing in crypto assets

The boss of Apple has revealed that he has invested in cryptocurrencies such as bitcoin but that the iPhone maker will not be following suit.

Tim Cook, chief executive of the technology group, told an industry event that he had been interested in digital coins “for a while”.

Cook believes that bitcoin, the world’s largest cryptocurrency, and ethereum, the second, are “reasonable to own” as part of a diversified investment portfolio, he told the online DealBook conference, organised by The New York Times, adding: “I’m not giving anyone investment advice, by the way.”

However, Apple is unlikely to do the same because Cook said that its shareholders were not interested in using their investment to gain direct exposure to such digital coins. “I wouldn’t go invest in crypto, not because I wouldn’t invest my own money but because I don’t think people buy Apple stock to get exposure to crypto,” he said.

While Cook said that the company was scrutinising ways it could use cryptocurrency technology, this was “not something we have immediate plans to do”.

Cook, 61, has led Apple for a decade and was chief operating officer under Steve Jobs. The company, based in Cupertino, California, sells iPhones, iPad tablets and Mac computers, as well as services, such as music and television streaming platforms. It has a market value of almost $2.5 trillion.

Cook defended privacy changes introduced this year, which have knocked the revenues of companies such as Snapchat, Facebook, Twitter and YouTube by an estimated $9.9 billion. Users were deciding where they wanted to be tracked, he said: “We’re not making the decision. We’re just simply prompting them to be asked if they want to be tracked across apps or not.”

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories...

News

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories...

News

source: https://bit.ly/2GswBI6 ING BANK N.V.-Manila will leave the Philippine retail banking market before 2022 ends, just about three years after its foray into the...

Editor’s Pick

Autonomous warehouse robot maker BotsAndUs has secured $13m (£10.6m) in a seed round led by Swiss venture capital firm Lakestar. London-based BotsAndUs will use...

Editor’s Pick

Porsche Ventures has invested $1.5m (£1.2m) into British cycling insurance provider Laka as part of a wider $13.5m (£10.9m) Series A funding round. Headquartered...

Editor’s Pick

Netflix has announced another round of job cuts as it grapples with slowing growth and increased competition. The streaming giant said it was cutting...

You May Also Like

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Financial Advisors

The healthcare ecosystem is one that has thrived on the cusp of scientific progress, benefitting enormously from the winds of change in the technological...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.