Not everyone has their eye set on the dwindling price of Bitcoin and other virtual currencies and that can be said about Steve Wozniak, Apple’s co-founder. In the American inventor’s opinion, Bitcoin may have devalued over 80 percent since December 2017, but we’ve seen massive value creation.
Steve Wozniak Believes Massive Value Has Been Created With Bitcoin
Steve Wozniak was in an interview with Bloomberg on February 26. He was asked about Bitcoin’s potential of becoming the world’s leading virtual currency in the future as he had predicted in June 2018. Also, if this could be a possibility after there has been massive destruction of the virtual asset’s value. Apple’s co-founder was not quick to agree with the latter. He, therefore, said we have seen a massive value creation when it comes to Bitcoin.
In Wozniak’s own words:
I’m not sure I can buy that we’ve seen massive value destruction, I think we’ve seen massive value creation.
Wozniak Says He is Not an Investor, but Experimenting With the Asset
The tech guru also pointed out that he had held Bitcoin in the past as a way of testing it on devices. As such, he is not an investor since he had only experimented with it. Specifically, his experiments were based on how to buy and sell things with Bitcoin, travel the world, and also find restaurants that are accepting the virtual asset.
Wozniak also noted that psychology is usually the driver of dips in stock markets, “like ‘oh my gosh, gotta get out now!”. Here, fear could determine the price. He adds that “And there was this idea that Bitcoin might go up to $40,000 and it went up to $20,000.”
In the same vein, Wozniak revealed that at the time when Bitcoin’s price began to spike, he sold his holdings. This is in line with his comments in January 2018 that he does not want to be one of those constantly keeping a close watch of the price of the virtual currency.
Elon Musk’s Positive Comments About Cryptocurrency
Like Wozniak, Elon Musk, PayPal’s co-founder has made positive comments about cryptocurrencies as a whole. According to Tesla’s CEO, virtual assets will replace paper money. On the other hand, Musk revealed that the only Bitcoin he is holding is 0.25 BTC which makes his opinion about these assets questionable.
Pantera Capital’s CEO, Dan Morehead is also confident about the crypto market when he stated that the fundamentals in this cryptocurrency winter are stronger. The CEO outlined that in 2014 – 2015 when it occurred, he was bothered if blockchain will survive. However, platforms like Bakkt and Fidelity Investments will lay a foundation with their cryptocurrency custody platforms which will attract institutions into the market.