Apple's Cook discloses personal Bitcoin holdings

Tim Cook, the chief executive of Apple, revealed that he personally owns cryptocurrencies like Bitcoin for investment diversification, but emphasized that the tech giant will not make similar purchases.

Speaking during an interview last week, Cook stated that he holds Bitcoin and Ethereum, valued at around US$115,760 (HK$902,928) and US$3,500 respectively, as part of his personal investment strategy, believing that including crypto for portfolio diversification is reasonable. He added that he has conducted his own research on Bitcoin.

However, Cook made a clear distinction between his personal investments and the company's position. He explicitly stated that Apple has no plans to invest its substantial US$200 billion cash reserves into Bitcoin or other crypto assets. Furthermore, he confirmed that Apple does not accept cryptocurrency as a form of payment for its products.

Cook also expressed his belief that people do not buy Apple stock specifically to gain exposure to the cryptocurrency market.