In a recent update, Apple CEO Tim Cook revealed that he personally owns cryptocurrency and has been interested in it for a while. His real worth is said to be about $1.4 billion.
Apple Might Not Offer Their Users To Pay Via Bitcoin Anytime Soon
Cook further shot down the rumours that Apple is targetting crypto as an investment even after the prices of Bitcoin and Ethereum has increased to new highs. He said that Apple has been noting the crypto but might not use it as a way to pay anytime soon for their users.
ALSO READ: Global Cryptocurrency Hits $3 Trillion Mark
Speaking at the Dealbook Online Summit, he said that its reasonable to own a part of diversified portfolio. At the same time, he wasn’t giving any financial advice. However, the Twitter users saw this as a peek into how Tim Cook manages his finances and revelation that he also has researched crypto.
Big Businesses Are Developing Interests In Crypto
Meanwhile, a lot of businesses have been incorporating crypto into their operations. Tesla has already begun accepting payments for their electric cars but they stopped in May stating ecological concerns. The company has also purchased bitcoins worth $1.5 billion/
Many of the developed countries like US, UK and Japan have legalised cryptocurrency. It is further emerging inthe developing countries as well.
However, China has heavily restricted bitcoins but has not criminalised it. India has banned banks from dealing in bitcoin. Even in the countries where bitcoin is legal, most of the laws that apply to other assets also apply to bitcoin. For tax purposes, Bitcoin is treated as property.
El Salvador became the first country to recognize bitcoin as a legal tender in june 2021. The digital currency bitcoin was created in 2006 by a person or an entity. However, the identity of the same has never been established. There are no physical bitcoins that are associated with the dollar bills or notes. It exists only on the internet or in digital wallets.
