Apple Co-Founder Steve Wozniak on Bitcoin

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Apple co-founder Steve Wozniak gave his thoughts on crypto during a wide-ranging interview on Bloomberg Television that was released on Tuesday (February 26th).

With regard to crypto, Bloomberg anchor Yousef Gamal El-Din started by reminding Wozniak of his past comments about his hope for Bitcoin to become one day the world’s single currency.

What Gamal El-Din was referring to is Wonziak’s interview with CNBC on 4 June 2018. Here is what Wozniak said back then:

“I buy into what Jack Dorsey says, not that I necessarily believe it’s going to happen, but because I want it to be that way, that is so pure thinking.”

“Bitcoin is mathematically defined, there is a certain quantity of bitcoin, there’s a way it’s distributed… and it’s pure and there’s no human running, there’s no company running and it’s just… growing and growing… and surviving, that to me says something that is natural and nature is more important than all our human conventions.”

Gamal El-Din then told Wonziak that “we’ve seen massive value destruction in Bitcoin” and asked him if he was still a believer in Bitcoin.

Wozniak answered:

“I am not sure that I can buy that ‘we’ve seen massive value destruction’. I think we’ve seen massive value creation.”

He then added that although he owned some bitcoins in the past, “to experiment with”, he sold them because he didn’t want to get stressed out over the constant price fluctuations. Here is how Wozniak explained his decision to sell his bitcoins to a crowd at the Nordic Business Forum in Sweden on 24 January 2018:

“When it shot up high, I said, ‘I don’t want to become one of those people that watches it, watches it and cares about the number.’ I don’t want that kind of care in my life… Part of my happiness is not to have worries, so I sold it all and just got rid of it.”

It seems that these days just owns one bitcoin based on what he said at the above-mentioned interview with CNBC on 4 June 2018:

“No, my point is I never invested in Bitcoin… I sold all my bitcoin except one. I kept one to experiment with now, and I have two ether, and that’s it.”

Although Gamal El-Din did not ask Wonziak for a Bitcoin price prediction, it is worth remembering what Wozniak told CNBC when asked this question:

“Bitcoin, because it is regulated in its quantity, it’s down to supply and demand. And as more and more people want it and demand it… there’s no extra supply. It’s limited. In terms of dollars, Bitcoin will go up and up over time.”

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