Apple CEO Says He Bought Bitcoin

• Tim Cook, the chief executive officer for Apple, revealed at the New York Times’ DealBook Online Summit that he owns Bitcoin and Ethereum.

• When asked if Apple intends to invest in the emerging market, Cook stated that he would not use the company’s $200 billion liquid capital to purchase any crypto.

• “It’s not something we have immediate plans to do. I don’t think people buy Apple stock to get exposure to crypto. If they want to do that, they can invest directly in crypto through other means,” said Cook.

• These responses signify a shift amongst corporate leaders regarding their accepting towards cryptocurrencies. In the past, many have shunned the developing technology as scams or “funny internet money.” With a nearly $3 trillion dollar market capitalization, it is hard to ignore the impact that the cryptocurrency market has in many aspects of business and life.