Man Utd veteran Giggs keeps door open to Team GB
He would have to clear it with the Football Association of Wales first, with the home nations aside from England having expressed opposition to a united team.
"I haven't thought about the Olympics too much but nearer the time, I am obviously going to have to," he told the Daily Telegraph. "First of all, I have to get picked - there are a lot of players vying for 20-odd spots - (and then there) is another obstacle: will it affect Wales in the future?
"If it does, then it will be an easy decision for me to make. If it comes to the time when the likes of myself, Gareth Bale and Aaron Ramsey are picked, it is something we will have to speak to the FAW about, but I hope (it doesn't become an issue)."