The revelation that Apple’s CEO, Tim Cook owns crypto has stunned people in the crypto and tech sectors worldwide. In response to an interviewer who asked whether he held Bitcoin or Ethereum, Cook claimed that he did. Further, he felt it was “reasonable” to own such assets in a “diversified portfolio.”
In his show, investment expert Anthony Pompliano unpacked the implications of Cook’s comments and how they could change the crypto industry as we know it today.
An apple a day keeps the FUD away
For his part, Cook made it clear that his investment choices did not hint at Apple accepting crypto as payment in the future. However, Pompliano felt differently. Though acknowledging he didn’t know much about Cook’s crypto investments, the investment exec was hopeful that crypto could become part of Apple’s business. He wondered,
“And so is there a day in the future where we see Apple go ahead and allow for Bitcoin or other cryptocurrency payments? Absolutely, in my opinion…is there a day where they start to integrate with things like Web 3 or some of the other products and technologies that people are building? Absolutely…”
He added,
“…crypto is not going to be a separate industry. Instead…you are going to get crypto to infiltrate all of the existing assets and all of the existing industries.”
Apple CEO Tim Cook just said he owns Bitcoin and Ethereum.
This shouldn’t surprise anyone that a technologist is interested in new technologies. pic.twitter.com/8vyxjPQST5
— Pomp 🌪 (@APompliano) November 9, 2021
No longer a ‘hardcore’ topic
One thing that particularly excited Pompliano was how it was becoming “cool” to talk about cryptocurrencies, rather than putting one’s professional reputation in jeopardy. He explained,
“Of course you can talk about it – the career risk has been removed. And so whether it’s Tim Cook here or somebody else in a position of power or influence, whether they’re in the finance industry, the technology industry, or somewhere else, they now are allowed to talk about this technology in a way that it is expected.”
The investment exec also suggested that tech leaders would now research crypto, participate in the sector to educate themselves, and even add experts to their board of directors to make sure crypto doesn’t disrupt their own business models.
This, in turn, Pompliano claimed, would boost crypto adoption across industries.
Innovation with iCloud
Bringing Bitcoin to Apple isn’t a novel idea. American entrepreneur and MicroStrategy co-founder Michael J. Saylor suggested that Apple’s iCloud could help transport and store crypto for payments. Saylor further claimed such innovation could improve business and beat out banks. He asked,
“If 100 million people have $10,000 sitting in the iCloud, then you just became the world’s biggest, most profitable bank in the history of mankind, right?”