Tim Cook's Crypto Stance Leaves Apple's Future in Bitcoin Uncertainty

Apple's outgoing CEO Tim Cook owns cryptocurrency personally, but he never put Bitcoin on Apple's balance sheet during his tenure. In November 2021, Cook said at a New York Times DealBook event that he owned crypto, but wouldn't invest it in Apple stock because people buy Apple shares for its fundamentals, not to get exposure to crypto.

Cook made this statement when asked about Bitcoin, and he stuck to it. Since then, the price of Bitcoin has fluctuated, reaching a record near $68,991 in 2021 and trading at around $77,244 on Sunday, about 12% higher than its previous peak. In contrast, Apple shares have risen by roughly 82%, from $175.35 to $319.70.

The incoming CEO John Ternus has not commented publicly on his views on cryptocurrency or Bitcoin. As a hardware engineer with no background in finance, it remains unclear whether he will follow Cook's approach and keep Apple out of crypto investments.