Tim Cook, Apple's chief executive

Credit: Apple

Apple is eyeing a push into cryptocurrency amid soaring interest in digital money as prices surge.

The iPhone maker’s chief executive TimCook said cryptocurrency is “something we are looking at, it’s not something we have immediate plans to do”.

He said Apple was not considering investing its own funds in cryptocurrency, as electric car company Tesla has done.

Mr Cook said the business is also not planning to sell its products in exchange for bitcoin or other crypto in the immediate future, although there were “other things that we’re definitely looking at” in regards to cryptocurrency.

Bitcoin prices hit an all-time high of more than $67,000 earlier this week, buoyed up by an investing boom in the wake of the Covid crisis.

Mr Cook’s comments, at a financial conference, come two years after Apple Pay vice president Jennifer Bailey said there was “interesting long-term potential” in cryptocurrencies.

Meanwhile, the Bank of England is considering setting up a digital currency dubbed Britcoin. On Tuesday, officials said this is at least five years away from launch and vowed to set up a consultation into itsb creation in 2022. 

Sir Jon Cunliffe, Deputy Governor for financial stability at the Bank, said the plan for a consultation was a “crucial step in our policy development”.