Tim Cook, Apple's chief executive, said at the DealBook Online Summit that he has bought cryptocurrencies saying that it is  reasonable to own it as part of a diversified portfolio.

While he was not into giving investment advice. He said he has done some research on crypto and has been interested in it for "a while." The revelation came as Cook said that Apple itself did not intend to do anything with the tech for now.

There aren't many people in the audience who want to join a growing number of big businesses incorporating crypto in their operations.  Cook said. 

Apple didn't plan to buy any Bitcoin with its roughly $200 billion in cash because he didn't think people buy Apple stock to get exposure to crypto.