Tim Cook leaves Apple without Bitcoin as John Ternus takes over

Tim Cook leaves Apple on Tuesday, September 1. John Ternus takes over as chief executive. Apple has never put Bitcoin on its balance sheet. Ternus has never publicly stated a position on Bitcoin or stablecoins. Cook said in 2021 that he owned crypto personally. Cook said he did not think people bought Apple stock for exposure to crypto. Cook did not disclose which assets he held or how much he owned. Apple held $146.5 billion in cash and marketable securities as of June 27, according to its filing. Bitcoin set a record near $68,991 the day after Cook's 2021 comments. Bitcoin traded near $77,244 on Sunday, about 12% higher. Apple shares closed 2021 at $175.35. Apple shares ended Friday at $319.70, roughly 82% higher. Ternus is a hardware engineer who spent 25 years working on devices. Cook stays on as executive chairman with a policy brief. Apple generated $30.7 billion in Services revenue last quarter. Apple Pay processes card transactions rather than tokens. Reports in 2025 linked Apple to early talks about using stablecoins to reduce settlement costs. Nothing from those talks has shipped. Apple has never confirmed the talks. Ternus has not been asked publicly about the issue.