If You Invested $1000 In Bitcoin When Apple CEO Tim Cook Said He Holds Crypto, Here's How Much It'd Be Worth Today

In a massive endorsement, Tim Cook, the CEO of one of the most valuable companies in the world, disclosed in late 2021 that he was exposed to cryptocurrencies. Since then, Bitcoin BTC/USD, the largest cryptocurrency, has broadly preserved its value despite a nasty bear market in between.

What Happened: In an interview with Andrew Ross Sorkin at the DealBook Conference, the Apple Inc. AAPL CEO confessed that he owned cryptocurrencies, though didn't specify which one or how much.

"I think it's reasonable to own it as part of a diversified portfolio," Cook said during the interview which came at the peak of the last bull cycle in November 2021.

At that time, Bitcoin's price peaked at $69,000. This means that an investment of $1,000 would have fetched a person 0.014 units of Bitcoin. 

Unfortunately, the market entered into an extended bearish phase after this, causing Bitcoin's price to plummet as low as $16,000 in the fall of 2022. 

The bullish impulse was brought back by the hype and eventual listing of spot Bitcoin ETFs. This resulted in Bitcoin attaining an all-time high of $73,000 earlier this year. 

At the current price, 0.014 Bitcoin will amount to $952. While this is an obvious decline, bullish forecasts by several analysts by 2024-end raise hopes of better returns. 

Why It Matters: Bitcoin has gained traction as a store of value, akin to how traditional finance sees gold. 

Indeed, Bitcoin has grown by more than 7x in the last five years, and a staggering 158x in the last ten years, according to data from Benzinga Pro. In comparison, shares of Apple have risen 189% in the last five years, and 6x in the last ten.

Photo courtesy: Shutterstock

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