The news that Apple's CEO, Tim Cook, owns cryptocurrency has surprised the crypto and tech communities throughout the world. Cook stated that he owned Bitcoin and Ethereum in answer to an interviewer's question. He also said it was "acceptable" to possess such assets as part of a "diversified portfolio."
Anthony Pompliano, an investing expert, discussed the consequences of Cook's remarks and how they may disrupt the crypto sector as we know it today on his show.
An apple a day keeps the rumor mill at bay.
Cook, for one, made it clear that his investment decisions did not imply that Apple would accept cryptocurrency as payment in the future. Pompliano, on the other hand, had a different opinion. Though the investment exec said he didn't know much about Cook's crypto investments, he expressed optimism that crypto may become a component of Apple's company. He pondered aloud,
"Is there a day in the future when Apple will accept Bitcoin or other cryptocurrencies as a form of payment?" Absolutely, in my opinion...do you think there will come a day when they start to interact with things like Web 3 or some of the other goods and technologies that people are developing? Absolutely…”
He continued,
"...crypto will not be a distinct business." Instead, you're going to see cryptocurrency permeate all of the established assets and sectors."
It's no longer a 'hardcore' issue.
One thing that piqued Pompliano's interest was how it was becoming "cool" to talk about cryptocurrencies instead of jeopardizing one's professional image. He clarified,
"Of course you can talk about it now that the career danger is gone." So, whether it's Tim Cook here or someone else in a position of power or influence, whether they're in the banking business, the technology industry, or anywhere else, they can now talk about this technology in the way that is anticipated."
The investment executive also claimed that tech executives will now conduct study on cryptocurrency and join in the industry to educate themselves, and even appoint specialists to their boards of directors to ensure that cryptocurrency does not undermine their own business models. This, according to Pompliano, would increase crypto acceptance across businesses.
iCloud as a source of innovation
It isn't a new concept to bring Bitcoin to Apple. Apple's iCloud, according to American entrepreneur and MicroStrategy co-founder Michael J. Saylor, might assist transfer and store bitcoin for payments. Saylor went on to say that such innovation might boost business and help banks compete. He inquired,
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