Steve Wozniak Feels Bitcoins Have Massive Value Creation

By Rishma Banerjee

The popularity of cryptocurrencies have grown in leaps and bounds over the years; so much so, that the term Bitcoin has almost become a household name, and one of the most searched thing on Google. Steve Wozniak, Apple’s co-founder, who had supported bitcoins before as well recently spoke with Bloomberg on February 26, 2019. He covered topics like AI, machine learning, and quite obviously Bitcoins as well.

Previously, Wozniak had mentioned that according to him, Bitcoin was well on its way to become the world’s reserve currency. In the recent interview with Bloomberg, he reiterated his stance even after the top cryptocurrencies along with others go through a terrible and prolonged bearish phase.

To this, the US inventor and electronics engineer said:

“I’m not sure that I can buy that we’ve seen massive value destruction, but I think we’ve seen massive value creation… psychology will often drive markets… I never invested [in Bitcoin] as an investor. I only had Bitcoin to experiment with and find out how to buy and sell things around the world, and find restaurants that accept Bitcoin.”

He also elaborated on this issue and said that when Bitcoin’s price had shot up to near $20,000, he sold out because he was not an investor or a trader, but rather was an individual who was just curious as to how Bitcoin worked and how he could use it.

“I don’t want to be one of those people watching the price of Bitcoin, so I sold out.”

In the interview with CNBC back in June 2018, Wozniak was quoted saying:

“Only Bitcoin is pure digital gold… and I totally buy into that. All the others tend to give up some of the aspects of Bitcoin. For example, being totally decentralized and having no central control. That’s the first one they have to give up to try to have a business model.”

From all these interviews, discussions and statements it is quite clear that Wozniak has been able to maintain his good faith in Bitcoins, even if a larger section of cryptocurrency sympathizers have gone public to voice their suspicions about the future of Bitcoins, in the long run.