WSJ: Apple Not Buying Crypto
The Wall Street Journal writes, "Tim Cook Owns Crypto, but Apple Won't Invest Its Cash Into It." The piece explains, "Apple Inc. Chief Executive Tim Cook said the company is looking into digital currencies and that cryptocurrency is part of his personal portfolio. Though what Apple's cryptocurrency-related projects might look like remains unclear, potential endeavors into digital currencies wouldn't involve investing Apple's sizable cash balance into them, Mr. Cook said. 'I don't think people buy an Apple stock to get exposure to crypto,' Mr. Cook said in a prerecorded interview for the New York Times DealBook Online Summit Tuesday. Cryptocurrency is already part of Mr. Cook's personal investments, he said in response to a question asking whether he owns cryptocurrencies like bitcoin or ethereum. Mr. Cook said he has been interested in digital currencies 'for a while' and doing research on them." The article adds, "Mr. Cook said the company has no immediate plans to accept cryptocurrency on Apple Pay or as a means of tender for its products. 'But there are other things that we are definitely looking at,' he said, without specifying more.... Other companies and executives have ventured into the realm of crypto. Tesla Inc. disclosed a $1.5 billion investment in bitcoin in February and soon after began accepting the cryptocurrency as payment for its vehicles. The company quickly reversed course, however, suspending that initiative in May as Elon Musk expressed worry about the source of the electricity being used to power bitcoin mining."
