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Tim Cook is investing in cryptocurrency, but don’t expect it to be on Apple Pay

Tim Cook, the CEO of Apple Inc., said the business is looking into cryptocurrency features, but he didn’t elaborate on what that may include.

Cook made the remarks at The New York Times DealBook conference on Tuesday. “There are other things that we are definitely looking at,” Cook said, adding that while the business has no immediate plans to enable crypto capabilities in Apple Pay, “there are other things that we are definitely looking at.”

Cook admitted that he invests in Bitcoin on a personal level, but that he has no plans to put Apple’s money into the commodity. “I don’t believe individuals buy Apple stock to gain crypto exposure,” he remarked. Apple also has no intentions to accept cryptocurrencies as payment for its products in the near future. Non-fungible tokens, or NFTs, are another “interesting” aspect of crypto, according to him.

Some perceive Apple to be a slacker in terms of introducing bitcoin support in the payments realm. Square Inc., PayPal Inc., and its famous Venmo service all support crypto features, and Inc. and EBay Inc. have all expressed interest in accepting the money in the future. Tesla Inc. briefly accepted cryptocurrency as a payment method for its automobiles earlier this year.

Cook also defended Apple’s App Store commission rate, claiming that most developers are only charged a 15 percent share rather than the entire 30 percent. He did say, though, that there will be more changes to the App Store in the future. Users who wish to side-load programmes from the web or elsewhere rather than via the App Store can buy an Android device instead of an iPhone, he added.

Cook said augmented reality remained a core technology for Apple when asked about Meta Platforms Inc. and its metaverse effort. According to Bloomberg News, the company wants to release its own mixed reality headset as early as next year.

News Desk
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