Tim Cook owns cryptocurrency, yes, but he does not wish to be labeled a bitcoin bull or anything of that sort. “It’s just something I am personally interested in,” the Apple CEO stated in an interview with journalist Andrew Ross Sorkin at Tuesday’s New York Times Dealbook Summit.
Cook did not reveal the crypto coins he holds but he did state that he thinks it’s reasonable to own cryptocurrency with a diversified portfolio. He has been interested in the same for quite some time now.
Still, cryptocurrency fans shouldn’t be eagerly waiting for the day when they can use bitcoin to purchase an iPhone. Cook stated that he does not plan to accept cryptocurrency as a form of payment for Apple products any time soon. However, other businesses, notably Tesla (for a short time) and Jack Dorsey’s payment company Square have accepted bitcoin as payment.
Cook does not believe people buy Apple stock to get exposure to cryptocurrency. They can invest directly in crypto through other means if they want that. Talking about Apple’s future plans, Cook avoided commenting on the long-standing rumors of an Apple car’s alleged launch.
In terms of Apple’s other initiatives, Cook remained tight-lipped about what might be next. He explained that we mostly avoid talking about the future since there is not less happening in the present day that we try to keep the future under wraps. He further added that it wouldn’t be Apple if it did not have anything under its sleeves.
Apple is in yet another controversy, this time with Epic Games, the creator of Fortnite. Cook addressed these concerns regarding Apple and the complaints around the Software Store. The complaint was that the software enables it to act as a gatekeeper between app developers and Apple’s users.
The creator is suing Apple for its App store and the commission charges it levies on developers. Apple critics and some lawmakers have asked the company to allow third-party App stores, also called “sideloading.” In Apple’s defense, the commissions are consistent with other app stores, and it maintains the exclusivity of the App Store. Another crucial part is security.
If sideloading is what one is after, they can buy an Android phone, remarked Cook—further adding that allowing iPhone users to sideload from third-party apps would be similar to telling an automobile manufacturer not to put airbags and seatbelts in a car. You would never do that. Looking at the current scenario, it is pretty risky, and what is the iPhone about if not security.
The company was also scrutinized for its China operations, where human rights abuses by the government have been a rising concern.
“According to me, our responsibility here is to conduct business in as many places as possible,” Cook said. He goes by the quote of Tom Watson, former IBM CEO, ‘world peace through world trade.’ When talking about speaking up, he said they speak up on specific issues privately and some publicly. One has to get their head around it when operating outside the country. He also pointed out the beauty and complexity of the world in the diversity of laws and customs.