Apple mulling move in to the cryptocurrency space

Apple plans to push cryptocurrency amid high interest in digital money as prices rise.

Tim Cook, the chief executive of iPhone maker Apple, said that cryptocurrency was “something we are considering”, but not something they have any immediate plans to do.

He stated that Apple would not consider investing its own funds into cryptocurrency like Tesla, an electric car company.

Cook stated that the company is not looking to trade its products for cryptocurrency or bitcoin in the near future. However, there are “other things we’re certainly looking at” regarding cryptocurrency.

Bitcoin prices reached an all-time high at more than $67,000 earlier in the week, thanks to an investment boom that followed the Covid crisis.

Two years ago, Mr Cook made the comments at a financial conference. This is after Jennifer Bailey, vice president of Apple Pay, said that cryptocurrencies had “interesting long term potential”.

The Bank of England is currently considering launching a digital currency called Britcoin. Officials stated that it is likely to launch in at least five years. They also promised to hold a consultation on its creation by 2022.

Sir Jon Cunliffe is the Bank’s deputy governor for financial stability. He said that the consultation plan was a “crucial stage in our policy development”.


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