During an interview at the New York Times DealBook conference, Apple CEO Tim Cook said he had been keeping an eye on the cryptocurrency for some time. The comment comes when Bitcoin has just reached its highest level of around $ 68,000 for a 325% price appreciation in the last 12 months alone.
Today, Apple Maven highlights three main conclusions from Cook’s interview that Apple shares have (AAPL) – Download Apple Inc. report (AAPL). and even crypto investors should keep that in mind.
(Read more from Apple Maven: $ 2 Trillion Alphabet: Better Choice Than Apple Shares?)
# 1. Tim Cook watches carefully
As far as I know, this is the first time that the CEO of Apple has extensively and in front of a large TV audience (the conversation was previously recorded and broadcast on CNBC on Tuesday morning) about his views on cryptocurrency.
However, the CEO made a clear distinction between his personal position on crypto and Apple’s strategy around it. Between the lines, Tim Cook all just didn’t admit to owning digital coins, when he defended that it seemed “reasonable […] as part of a diversified portfolio ”.
The CEO also said that Apple did not actively seek cryptocurrency as a form of payment for the company’s products and services – something that the giant electric vehicle manufacturer Tesla (TSLA) – Download report Tesla Inc., for example, a few months. This does not mean, in my opinion, that the management team may not consider cryptocurrencies a tender in the future, especially if Bitcoin and others further develop into mainstream asset class.
# 2. There is no impact on the balance sheet
It is also very important that Tim Cook closed the door on any possibility for Apple to buy cryptocurrency for its own balance sheet. His explanation seemed logical to me:
“I would not go to invest [Apple’s money] in crypto, not because I wouldn’t invest my money, but because I don’t think people buy Apple stock to be exposed to crypto. “
The attitude is in line with Tim Cook’s conservative approach to managing the Cupertino-based company. While I can certainly imagine that like Elon Musk they are thinking of something similar, I don’t think Apple investors will ever have to worry about their stocks directly affecting the ups and downs of cryptocurrency prices.
# 3. Possible increase in bitcoin
While Tim’s interview may have caught the attention of Apple investors in the first place, I believe crypto investors should listen even more carefully. Bitcoin and other big coins continue to struggle in a tough battle to be recognized as a mature, stable storehouse of value and a transactional medium – and the case of that happening has become much more appealing in 2021.
If a company the size of Apple ever hints that it will accept Bitcoin as a payment – the question of Amazon arises (AMZN) – Download the report from Amazon.com, Inc. – Crypto investors can also make a winning circle, because the price of bitcoin could jump in the sky again. Now was not the time for Tim Cook to lean in that direction, but who knows what might happen in the not-so-distant future?
Apple CEO Tim Cook recently spoke about Bitcoin and its personal interest in it, but did not give any indications that Apple will soon make any moves in crypto. How would you like Apple to engage in Bitcoin and other digital currencies?
Get more expert analysis on AAPL
It is never too early (or too late) to start increasing your investment portfolio. Join the Real Money community for just $ 7.50 a month and unlock expert advice from our team of 30+ investment experts.
(Disclaimer: This is not investment advice. The author may have one or more shares mentioned in this report. Also, the article may contain affiliate links. These partnerships do not affect editorial content. Thank you for supporting Apple Maven)
Friendly communicator. Music maven. Explorer. Pop culture trailblazer. Social media practitioner.