Apple CEO Tim Cook said the company is ‘seriously exploring’ cryptocurrencies. Apple CEO Tim Cook stated Apple was looking into cryptocurrencies in an interview at the NYT Dealbook Conference 2021 but added that there were no “immediate” plans to introduce any crypto-related goods. While Cook did not elaborate on any of the areas in which the firm may be studying crypto, he did state that there are certain aspects of Apple’s business where he would not contemplate adding crypto solutions. When asked by interviewer Andrew Ross Sorkin if Apple would consider accepting cryptocurrencies through Apple Pay “or otherwise,” Cook said generically that cryptocurrency is “something that we’re looking at.” He went on to say that Apple has determined where it does not make sense to invest in cryptocurrencies, even if it is not yet ready to speak publicly about crypto goods. I’d define it as “there are things I wouldn’t do, such as our cash balance.
I would also not invest that in crypto, not just because I wouldn’t put my own money in crypto, but also because I don’t believe people are buying Apple shares to increase exposure to crypto. Cook also stated that Apple has no intentions to accept cryptocurrency as payment for its goods. He did, however, indicate unequivocally that crypto was on the company’s radar, adding “there are other things that we’re absolutely looking at” in terms of crypto, but that Apple had nothing to disclose on the subject at this time. Apple Pay competitors like PayPal, Venmo, and Square Inc.’s Cash app have all stepped into the crypto area in recent days, so it would also be surprising if Apple was just not looking at a similar approach.
“I believe it’s appropriate to hold it as part of a diverse portfolio,” Cook said, laughing, adding, “By the way, I’m not providing anybody investing advice.” The executive went on to state that he has been interested in bitcoin for some time. He also stated that while he believes NFTs are intriguing, he believes it will take some time for them to play out in a way that is appealing to the general public. The bigger discussion touched on other relevant themes of relevance to Apple and the greater tech sector, such as Apple’s stance on security, privacy, and the opening of the App Store, which Epic Games is fighting over in an antitrust court case that is now on appeal. Cook was direct on the subject of consumer choice, stating that when a customer buys a phone, they already have a choice.
What cryptocurrencies are working with Apple?
There is another platform that allows them to load software outside of an app store environment, a technique known as sideloading, he added. People, I believe, have that option nowadays…Cook said that if you want to sideload, you can buy an Android phone. If that’s essential to you, you should get an Android phone when you go to the carrier store.” Sideloading, in Apple’s viewpoint, is too hazardous, he argued. Of course, there’s also a way for Apple to lose millions of dollars that now flow through the App Store and in-app purchases, where it takes a portion of developer income. Cook also expressed his enthusiasm for AR technology in general, but declined to comment on Facebook’s recent VR plans with Meta or any prospective Apple initiatives involving autos, citing Apple’s policy of not talking about the future too much.
He also discussed Apple’s political stance, stating that the business does not have a political action committee, and defended Apple’s service to the Chinese market. I believe we should refrain from raising the bridge.