As Tim Cook Departs, Apple's Bitcoin Question Lingers

Tim Cook steps down as Apple's CEO on September 1. During his tenure, he never added Bitcoin to the firm's treasury. Incoming chief John Ternus has not publicly expressed his view on the matter.

Cook addressed the Bitcoin query just once, in 2021, and held that position. Five years on, the data indicates his refusal was justified.

What Tim Cook Actually Said About Bitcoin

As of June 27, Apple held $146.5 billion in cash and marketable securities, according to its own financial report. That large cash reserve keeps the question relevant.

During a New York Times DealBook event in November 2021, Cook was asked about cryptocurrency. He stated he personally owned crypto but then ruled out Apple following suit.

“I wouldn’t go invest in crypto, not because I wouldn’t invest my own money, but because I don’t think people buy Apple stock to get exposure to crypto,” he explained.

Cook did not disclose the size of his holdings or the specific assets, refusing to provide further information.

The subsequent performance supports his decision. The day after his comments, Bitcoin hit a record near $68,991. On Sunday, the leading cryptocurrency traded around $77,244, a gain of about 12%. Apple's stock closed 2021 at $175.35 and finished Friday at $319.70, a rise of roughly 82%.

Why Stablecoins Matter More Than a Treasury Bet

John Ternus comes from a hardware background. The incoming CEO has 25 years of experience with devices, not financial matters. Cook will remain as executive chairman, focusing on policy.

Therefore, the active decision revolves around payments, not the treasury. Services generated $30.7 billion for Apple last quarter. Apple Pay handles card transactions, not cryptocurrency tokens.

Reports from 2025 linked Apple to preliminary discussions about employing stablecoins to reduce settlement expenses. No product has been released, and Apple has never verified the talks.

Such a move would be infrastructure, not a headline announcement. Yet it would have a broader impact than any treasury purchase, as Apple already controls crypto apps via its App Store policies.

Cook addressed the issue early and maintained his stance. Ternus has not yet faced the same question.