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Highlights
- Apple CEO Tim Cook said that its only reasonable to own cryptocurrency as part of a diversified portfolio.
- Cook said that he had been keenly observing cryptocurrencies for a while and has been doing significant amount of research on the topic.
- Apple for now though, does not have any immediate plans to enter the crypto market.
What is the one thing that is binding market leaders Elon Musk, Jack Dorsey, Steve Wozniak, Mark Cuban, and Catherine Wood? No prizes for guessing that it is their love for cryptos and what they feel about its future.
Recently, Apple CEO Tim Cook said that he is not only owns Bitcoins, he is keen follower of cryptocurrencies, but also admitted that he is a proud owner of Bitcoins. In fact, the Apple CEO said that it is reasonable to have cryptocurrencies in a diversified portfolio, thus stressing on the fact that countries and central banks can no longer ignore it and label it as a high-risk investment. In the last two years, cryptocurrency has proven to be a profitable investment option, surpassing stocks and commodities, oil, and even gold.
Image copyright: Kalkine Media
Image Description: Tim Cook
Cook, speaking at The New York Times’s DealBook conference, said that he had been keenly observing cryptocurrencies for a while and has been doing significant amount of research on the topic. Cook’s view is crucial as it also showcases that more and more industry leaders are recognizing the importance of cryptocurrencies.
Also read: Debutant ENS crypto hits right chord with investors
Apple and NFTs
Well, it’s not the first time that Apple leaders have outspoken about cryptocurrencies with co-founder Steve Wozniak terming Bitcoin as a "mathematically pure".
Apple for now does not have any immediate plans to enter the crypto market but Cook said most cryptocurrencies have the potential to grow. Cook was all eager about nonfungible tokens (NFT) and termed it as an interesting product.
Also read: 3 upcoming crypto ICOs to watch out for in next 2 months
Although Apple does allow crypto wallets on Apple’s IOS store, it doesn’t directly have any cryptocurrency products or services. However, if Apple introduces cryptocurrency products in near future, it will surely change the market dynamics for the cryptocurrencies.
Conclusion
Cook’s opinion has certainly created a storm and especially with Bitcoin and Ethereum reaching their respective all-time highs. His opinion about cryptocurrencies as a viable form of investment and how they have grown over the years only show how cryptocurrencies are becoming mainstream.
Acceptance by big leaders like Cook could bring a sea change in the way crypto markets and we may see more and more leaders and investors drawing towards cryptocurrencies in a more aggressive manner.
Besides, this could also give the SEC an option to look at the options of accommodating cryptocurrencies for investment. With most countries getting serious with the regulation talks, we could very well see more cryptocurrencies getting mainstream in the near future.
