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 (CRYPTO: BTC), 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. (NASDAQ: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.

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