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Apple CEO Tim Cook says he personally owns cryptocurrency as part of his portfolio

Spork4000

Spork4000

Avenger
Oct 27, 2017
8,640
Considering he's a billionaire it would be odd if he didn't. Dropping 20 mil in bitcoin is "why not" money for him.
 
Ferrio

Ferrio

Member
Oct 25, 2017
18,139
Well no shit, why wouldn't they. You don't become a billionaire without fucking over someone. Throw enough money into various crypto so that you're a whale, if you lose it big deal, if it blows up you're that much richer.
 
excelsiorlef

excelsiorlef

Bad Praxis
Member
Oct 25, 2017
73,405
Every single one of these crypto threads has mad The Church of Jesus Christ of Latter-day Saints energy
 
Joe

Joe

Member
Oct 25, 2017
8,693
lol, yeah, if I had a billion fucking dollars, I'd probably have a pretty diversified portfolio.
 
Dyle

Dyle

One Winged Slayer
The Fallen
Oct 25, 2017
30,197
Well yeah, dude's rich as hell. What rich asshole is going to turn down the opportunity to become even richer?
 
Akira86

Akira86

Member
Oct 25, 2017
19,614
i mean, tim, it's called diversify. fuck dude, are you a infant or a billionaire?
 
The Albatross

The Albatross

Member
Oct 25, 2017
39,256
Who cares? All wealthy people have their wealth spread across many things to decrease risk, of course he has something in crypto. Probably has investments in old ass asset classes too. His portfolio probably has investments in Microsoft.
 
Instro

Instro

Member
Oct 25, 2017
15,140
I would imagine a lot of rich people have crypto assets. It being highly unregulated and very susceptible to pump and dump schemes, among other things, make it a great way for big money to extract wealth from small investors.
 
rac

rac

Member
Oct 25, 2017
4,147
so you posted this thread just to prove how anti crypto era is?

or is this so you can call all era boomers because a ceo owns crypto?
 
Vincent Alexander

Vincent Alexander

Member
Oct 26, 2017
19,859
I'm glad rich people have an easy way to make themselves more rich. Brings a tear to my eye.


crying-tears.gif
 
Last edited:
Gigglepoo

Gigglepoo

Banned
Oct 25, 2017
8,317
Weird that a dude who's sitting on a pile of gold would add a little more gold to his pile.
 
Aztechnology

Aztechnology

Community Resettler
Avenger
Oct 25, 2017
14,176
You can take a lot of risks when you have lots of money. It's probably an insignificant part of his portfolio anyway.
 
Punjabi_Hitman

Punjabi_Hitman

Banned
Nov 30, 2017
2,750
Bitcoin is the best hedge against inflation for the past decade makes sense than holding USD and earning .22% on it.

while gold is down 7% the past decade. While printing money has gone insane which is what gold has failed at its premise.

Bitcoin is taking over
 
rac

rac

Member
Oct 25, 2017
4,147
okay okay ill bite

tell me how this is good crypto defenders of era?
tell me how wealth inequality is now going to be solved because rich tech people are in crypto?
 
V23

V23

Member
Oct 27, 2017
1,953
Huh, today I learnt Tim Cook is a billionaire. Obviously I knew he was extremely wealthy, but wouldn't have guessed he had a billion. Most of his wealth must be tied to Apple stock holdings/options, so I guess it makes sense.
 
Green

Green

Member
Oct 27, 2017
7,432
rac said:
okay okay ill bite

tell me how this is good crypto defenders of era?
tell me how wealth inequality is now going to be solved because rich tech people are in crypto?
Click to expand...
Click to shrink...

It's not. The takeaway is that he's signaling Apple is not interested in any sort of integration or treasury exposure to "crypto".

Tim Cook has some because he, like many people in the space have been saying for a decade, recognize it's probably less risky to have just a bit than to have none at all at this point. If Apple goes with integration, they compromise their ability to control the currency flow like they do with Apple Pay and App Store (and possibly their ability to make their own walled-garden AppleCoin in the future like Zuckerberg's been trying to do).

And if they go for exposure (like converting a % of their treasury to crypto), firms like Berkshire Hathaway would get big exposure, too, and they don't like crypto. IE: bad for the stock.

Very political answer from Tim.
 
molnizzle

molnizzle

Banned
Oct 25, 2017
17,695
ETA for TimCoin rollout?

It's like DogeCoin but with Tim Apple

$TIMAPPLE token coming to an exchange near you!
 

Deleted member 4461

User Requested Account Deletion
Banned
Oct 25, 2017
8,010
Duh? I also feel like tons of people bought or tried to buy Bitcoin or some other crypto. It was specifically when NFTs became a thing that the internet turned against it. On the progressive side, anyways.
 
Punjabi_Hitman

Punjabi_Hitman

Banned
Nov 30, 2017
2,750
Spinluck said:
Billionaire wants to get richer
Click to expand...
Click to shrink...

They're thought process is more about capital preservation than getting more rich. Getting more rich is just a side effect because more money is debased more assets go up in price.

They would be putting money in gold but gold has failed as a hedge against inflation. Also gold can't be used as collateral for loans which is what the rich do.

They don't cash out their assets to get money, they take loans against them as it's a tax free move.
 
mbpm

mbpm

Member
Oct 25, 2017
23,937
The more interesting question would be what doesn't a big time CEO own
 
8byte

8byte

Attempted to circumvent ban with alt-account
Banned
Oct 28, 2017
9,880
Kansas
I always wonder why none of these news outlets take shots at big corporations / billionaires who pretend to care about climate change in their PR fluff pieces, but then turn around and embrace crypto / NFTs.

Call them out, cowards. Lol
 
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