Time Machine to backup to iCloud Drive
Can I set Time Machine to backup to my iCloud Drive?
MacBook Pro 16″, macOS 11.5
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No, Time Machine needs an external drive as a destination. You have already seen the Apple Support document describing the external drives you can use as a Time Machine backup drive: Backup disks you can use with Time Machine
There is not yet an iCloud backup available for Mac computers, only for the mobile devices, like iPhone, iPad, iPod touch.