Tim Cook Says Apple Is Watching Cryptocurrency

A few weeks ago, Apple CEO Tim Cook made headlines when he said that he personally owns cryptocurrency. He also said that Apple is looking at the possibilities of cryptos from a technology perspective. The question that many are now asking themselves is: Is Apple going to interfere in the crypto world?

Cook: “Crypto is something we are looking at”

“Crypto is something we’re looking at, it’s not something we plan to do immediately. I wouldn’t be quick to put our cash balance in it. I wouldn’t invest that in crypto, not because I wouldn’t invest my own money in crypto, but because I don’t think people buy Apple stock to get exposure to crypto. So if they want to do that, you know, they can invest directly in crypto in other ways. And so I wouldn’t do that. I do not plan to use crypto for our products in the near future. But there are other things that we are definitely looking at.”

During the interview, Cook revealed that he owns crypto coins himself. He also said it’s smart to own it as part of a diversified portfolio. Cook, however, did not state whether he Bitcoin or own another particular type of cryptocurrency.

What will Apple do with cryptocurrencies?

Apple already has plans to expand its retail finance division. The Apple Pay service allows people to send money through iMessage. By doing this, Apple wants to tap into new revenue models. But what does this have to do with cryptocurrencies?

For example, it could be that Apple will soon build a Bitcoin wallet directly into the Apple Wallet. It could also be that you will soon be able to buy BTC tokens via the Apple wallet. In fact, Apple could even become a crypto exchange.

If Apple does indeed make a crypto exchange, you will soon be able to buy Bitcoin directly in the Apple Wallet app. This allows you to store your crypto holdings in the Apple Wallet while Apple stores the passwords itself. It’s a lot like what Cash App or Coinbase does. Here you can send, receive and store Bitcoin without having to save your seed phrase.

Why would Apple want to get involved in the crypto world?

Ultimately, Bitcoin will become a major force to be reckoned with in our world. It seems only a matter of time before the mega-corporation will also get involved in the crypto world. Apple doesn’t want to miss the massive shift in technology as it aims to boost services revenue and become a major player in financial services.

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