Tim Cook Leaves Apple Without a Bitcoin Legacy
Apple's CEO Tim Cook is stepping down on September 1, but one thing he won't be taking with him is any significant investment in Bitcoin. Despite Apple holding a massive $146.5 billion in cash and securities, Cook has consistently declined to add the cryptocurrency to the company's balance sheet.
Cook stated in 2021 that Apple stockholders don't buy the stock for crypto exposure, which explains his cautious stance on adding Bitcoin to the company's portfolio. And it seems he made the right decision, as Apple shares have risen about 82% since 2021, outperforming Bitcoin's roughly 12% gain.
The incoming CEO John Ternus has not publicly commented on Bitcoin or stablecoins, leaving Apple's future crypto strategy uncertain. There were some past talks about using stablecoins for payment settlements, but no confirmed moves have been made yet.