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Apple CEO rules out venture into crypto space

Apple have always been coy on their stance on crypto, neither definitively supporting or distancing themselves from the space. This week, CEO Tim Cook has outlined his views on whether or not the company are likely to ever create their own cryptocurrency.

“I am not comfortable with the idea that a private group creates a competing currency. A private company does not have to seek to gain power in this way. Money, like Defence, must remain in the hands of States, it is at the heart of their mission. We elect our representatives to assume government responsibilities. Companies are not elected, they do not have to tread this ground.”

Cook’s stance certainly looks to rule out any potential “AppleCoin”, it does not necessarily rule out Apple products eventually supporting crypto in some form. Just like Samsung have made their foray into the space, with their phones looking to support crypto, it seems unlikely that Apple will never jump on board.

Apple may just be waiting for the right time, with the market very much in a quiet phase, and interest no way near all time highs. Should Bitcoin regain all time highs, then it would be interesting to see Apple’s stance.

Image licensed via Shutterstock

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