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Analyst: Apple could embrace cryptocurrencies and accept Bitcoin, other crypto payments

By Roland Udvarlaki November 11, 2021, 7:45 am
Apple cryptocurrency Source: Background Image: Unsplash

Tim Cook recently sat down with Andrew Ross Sorkin for an interview for The New York Times DealBook online conference. In the interview, Cook talked about several things, including the importance of AR technologies, cryptocurrencies, and more.

Cook explained that he finds cryptocurrencies “interesting” and that Apple is “looking at” crypto (via 9to5mac), but also mentioned that they have no immediate plans to make announcements in that area.

Sorkin: What is your thought on cryptocurrency right now and potentially accepting it through Apple pay or otherwise?

Cook: It’s something we are looking at, it’s not something we have immediate plans to do. I would characterize it as there are things that I would not do like our cash balance. I would not go and invest that in crypto not because I would not invest my own money in crypto, but because I don’t think people buy Apple stock to get exposure to crypto. So if they want to do that, they can you know, invest directly in crypto through other means. And so I would not do that. I’m not planning to in the immediate future to take crypto for our products. As a mane of tender, but there are other things that we are definitely looking at.”

Anthony Pompliano, an investment expert, took a closer look at the conversation and shared some of his comments on the new revelations (via AmbCrypto). He mentioned:

“And so is there a day in the future where we see Apple go ahead and allow for Bitcoin or other cryptocurrency payments? Absolutely, in my opinion…is there a day where they start to integrate with things like Web 3 or some of the other products and technologies that people are building? Absolutely…”

“…crypto is not going to be a separate industry. Instead…you are going to get crypto to infiltrate all of the existing assets and all of the existing industries.”

The investment expert also suggested that many technology leaders are now looking into cryptocurrencies and are actively researching ways to participate and educate themselves and their teams. According to Pompliano, they add experts to their board of directors to ensure that crypto doesn’t disrupt their business and operations. It wouldn't be too surprising to see Apple allow products to be purchased by cryptocurrencies, and it would join PayPal and Tesla who are some of the biggest names that are accepting and working with cryptocurrencies today.

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