Steve Wozniak, a co-founder of Apple, has sold his Bitcoin holdings. He stated this recently at Nordic Business Forum in Stockholm that he chose to after getting tired of the hype around the price.
Reasons For Selling His Bitcoin Holdings
Steve Wozniak had earlier revealed that he purchased his Bitcoin out of curiosity when the digital currency was worth 700 dollars per coin. This was done with the sole aim of experimenting. However, when the value of the digital currency shot high to its apogee of almost 20,000 dollars, he cashed out.
Steve noted in a Question and Answer session with marketing guru and author, Seth Godin in Nordic Business Forum in Stockholm that he decided because he does not want to be one of those people who continuously watches its price. He further stated that part of his happiness is not to have worries, to avoid it he got rid of it.
Steve Wozniak’s View of Cryptocurrency
Steve’s view of cryptocurrency had been made known earlier. He stated that he admired Bitcoin from the outset and considers it a better store of value than gold or the U.S. dollars. Though the postulation for this is still nascent because of the nascency of the crypto sphere, however, many incurable crypto optimists still hold on to it.
Also, Steve earlier believes of Bitcoin; as a means of payment, he considers as premature as his goal was to travel to a place like Stockholm and go to restaurant and hotels that only accept Bitcoin and only use it when he travels. Bitcoin’s growth as a means of payment has seen the setback as it is preferable as a store of value.
Sales Of Crypto Holdings
While Steve sold his crypto holdings when the crypto market was its apogee, many have been forced to sell their crypto holding due to the enduring crypto market bear. The crypto market bear has led to many crypto firms folding up and many also retrenching their workforce to survive the crypto winter market.
Also, the condition has led to the shed of the market cap value in tune of over 90 percent since it started over a year ago. While, many have predicted possible market recovery this year, the exact period the bear market will end remains unknown and a debate. However, optimism still pervades the crypto market.