Apple CEO Tim Cook reveals cryptocurrency investment at Deal Book conference

Billionaire Apple chief Tim Cook has disclosed that he owns cryptocurrency and that he has been interested in it “for a while".

Apple CEO Tim Cook.

Apple chief executive Tim Cook has revealed for the first time that he owns cryptocurrency and that he considers it a “reasonable” investment.

Mr Cook was askedby journalist Andrew Ross Sorkin if he owned bitcoin or ethereum at the Deal Book conference

“I do. I think it’s reasonable to own it as part of a diversified portfolio, ”Mr Cook said. “I’m not giving anyone investment advice by the way.”

Apple CEO Tim Cook.

Mr Cook said that he had been interested in cryptocurrency “for a while” and that he had been researching the topic.

Mr Cook was quick to say that his investment was his “personal point of view” and rejected suggestions that Apple might take cryptocurrency in exchange for products.

Cook also rejected the possibility of Apple buying cryptocurrency with corporate funds as an investment.

“I wouldn’t go invest in crypto, not because I wouldn’t invest my own money, but because I don’t think people buy Apple stock to get exposure to crypto,” Mr Cook said.

A worker checks out a customer at a store where Bitcoin currency is accepted as payment method in El Salvador.

Mr Cook is worth about $US1.4 billion.

Bitcoin and ether hit all-time highs on Tuesday morning.

The bitcoin price has reached a new record high, breaking through $US68,000, and analysts predict that the world’s best-known cryptocurrency will rise further in the coming weeks.

Ethereum, the world’s second-largest digital coin, surged more than 4 per cent in the past 24 hours to hit a new all-time high above $US4700.

Gold Bitcoins are seen in the window of a Bitcoin and cryptocurrency exchange office on in Istanbul, Turkey.

Apple doesn’t currently have any cryptocurrency products or services. It does allow crypto wallet apps on its iPhone App Store, but it also prohibits mining apps.

Cook said on Tuesday that while Apple was looking at cryptocurrency technology, it’s “not something we have immediate plans to do.”

Originally published as Apple CEO Tim Cook reveals cryptocurrency investment at Deal Book conference