Tim Cook, Apple’s CEO, recently disclosed that he’s held Bitcoin for about three years, marking his interest in the cryptocurrency, though he was clear that Apple as a company won’t be venturing into the crypto market anytime soon.
During an interview with DealBook’s Andrew Ross Sorkin, Cook noted that holding Bitcoin is “reasonable” as part of a diversified portfolio, though he wasn’t giving financial advice. His statements come amid Bitcoin’s recent price surge, nearing $82,000, and mark a personal endorsement without implying a corporate shift in Apple’s strategy.
While tech giants like Tesla have embraced Bitcoin by accepting it for payments and holding $1.5 billion worth in their treasury, Apple’s CEO Tim Cook stated that Apple isn’t planning to follow suit.
He confirmed that Apple has no immediate plans to use cryptocurrency in its payment systems or invest its significant cash reserves—around $200 billion—in digital assets. Cook emphasized that people don’t buy Apple stock to gain crypto exposure, suggesting that crypto investments should remain a personal choice for individual investors.
Cook also mentioned that while Apple allows crypto wallet apps on its App Store, the company is “already looking into other things,” though he didn’t offer details on what these might entail. The CEO also expressed a mild interest in NFTs but dismissed any labels as a “crypto bull.” His statements align with Apple’s more conservative approach to cryptocurrency, contrasting with the more aggressive stances of competitors.
Bitcoin whale activity has surged during this rally, with several large transactions signaling significant interest among high-net-worth investors.
Market analysts have noted a trend of whales buying large amounts of Bitcoin, often coinciding with price rallies. Vivek Sen, founder of Bitgrow Lab, pointed out in a recent post that whale transactions have been unusually high, citing Trump’s re-election as a potential factor in renewed interest.
Recent data from Arkham’s on-chain analytics reveals intense Bitcoin activity among large investors, with multiple high-value transactions recorded over the past week.
Notably, an investor bought $92 million worth of Bitcoin on November 7th, followed by four other investors acquiring over $145 million the next day. Two major transfers, totaling over 62,000 BTC valued at $2 billion each, were also moved from Mt. Gox to an unknown wallet recently.
In the last seven days alone, Arkham tracked 144 transactions, each exceeding $100 million, reflecting strong interest among Bitcoin “whales.”
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