Apple is one of the biggest companies in the world right now and turns over billions every year. The co-founder, Steve Wozniak has recently said that Bitcoin has created a huge amount of value.
In a recent interview, Bloomberg’s Yousef Gamal El-Din asks the co-founder about the leading cryptocurrency saying, “we’ve seen massive value destruction in Bitcoin. Are you still a believer in that? Is that still a workable model for you?” In response to this question, Wozniak made a counterpoint saying that Bitcoin has in fact created massive value, stating “I’m not sure I can buy that we’ve seen massive value destruction. I think we’ve seen massive value creation.”
Following on, the co-founder says:
“There was a period of time – psychology will often drive stock market dips, like ‘Oh my gosh, gotta get out now!’ The psychology factor’s kind of a fear thing. And there was this idea that Bitcoin might go up to $40,000 and it went up to $20,000.”
Steve Wozniak is a well-respected investor and electronics engineer. Sometimes referred to as Woz, he co-founded the multinational tech firm Apple in 1976 along with Steve Jobs and Ronald Wayne.
Woz says that he only bought Bitcoin in order to test out its technology and during the last bull run he sold his assets.
“I had a lot of Bitcoin, but never as an investor. I only had Bitcoin to experiment with and find out how to buy and sell things around the world, how to travel and find restaurants that would accept Bitcoin. That sort of thing.
And so when it went up high I said woah, wait a minute. I do not want to be one of these people – I don’t invest in stocks, I’ve never used Apple’s stock app. I don’t want to be one of these people watching the price of Bitcoin, so I sold out. And I don’t know where it is now, but wherever it’s way over what I bought. And I still experiment with it on new Bitcoin devices and all.”