Asian Tech Press (Nov 10) -- Apple CEO Tim Cook reportedly said he has purchased cryptocurrencies, but Apple has no intention of doing business with them.

According to a report from The New York Times, Cook said at the DealBook Online Summit on Tuesday that he has personally purchased cryptocurrencies, but that Apple does not intend to incorporate cryptocurrencies into its business.

Cook said Apple does not plan to use its nearly $200 billion in cash to buy any bitcoin and "I don't think people buy Apple stock to get exposure to crypto."

In addition, the billionaire said Apple has no plans to make cryptocurrencies a method of payment anytime soon, and "It's not something we have immediate plans to do."