[Bitcoin Now] Hovering Around 80 Million Won... Tim Cook Says "Apple Has No Plans to Offer Cryptocurrency Services"

Apple CEO Tim Cook "Personally Holding Cryptocurrency"
Speculation on Apple's Entry into Cryptocurrency Market Since Last February

[Image source=EPA Yonhap News]

[Asia Economy Reporter Gong Byung-sun] Bitcoin, the leading cryptocurrency that had reached an all-time high, is now hovering around the 80 million KRW mark. Meanwhile, Apple CEO Tim Cook revealed that he personally invests in cryptocurrencies but stated that Apple will not offer cryptocurrency-related services.

According to the domestic cryptocurrency exchange Upbit, as of 2:51 PM on the 10th, Bitcoin was recorded at 79.84 million KRW, down 1.25% from the previous day. Although it hit a record high of 82.7 million KRW the day before, it has since shown slight fluctuations around the 80 million KRW level, indicating a somewhat hesitant trend. At 1:03 PM on the same day, it even dropped to 79.31 million KRW.

Meanwhile, CEO Cook acknowledged that he holds cryptocurrencies. According to the US economic media CNBC on the 9th (local time), Cook said at the New York Times (NYT) DealBook online conference, “I hold cryptocurrencies such as Bitcoin and Ethereum,” adding, “I have taken an interest in cryptocurrencies for a while and studied them, and while I do not necessarily recommend investing, I think it is reasonable to include cryptocurrencies in a portfolio.”

However, Cook dismissed ongoing rumors about Apple entering the cryptocurrency business. He explained, “I personally hold cryptocurrencies, but Apple has no plans to invest in cryptocurrencies,” adding, “I believe Apple investors do not want their stocks to be exposed to cryptocurrency-related issues.”

Rumors about Apple entering the cryptocurrency business have long been one of the most closely watched issues in the industry. There is anticipation that if Apple launches cryptocurrency services, it could further expand the cryptocurrency market through networks based on devices such as iPhones and MacBooks. When Tesla announced in February that it had purchased $1.5 billion (approximately 1.7724 trillion KRW) worth of Bitcoin, the foreign investment bank RBC Capital Markets claimed that if Apple also entered the cryptocurrency market, it could generate annual revenues of $40 billion.

This content was produced with the assistance of AI translation services.