Apple’s Steve Wozniak Praises Bitcoin For its ‘Massive Value Creation’ Properties, Not Destruction

Bitcoin, while successful, has had mixed reactions from those in the business world. There are those like Twitter CEO Jack Dorsey who have praised it and others like Warren Buffet who have labeled it useless.

One person who has spoken positively about the coin is Apple co-founder Steve Wozniak, who says a lot of value has been created as a result of bitcoin. This happened during a recent interview he had with Bloomberg where he was asked whether bitcoin could still be the currency of the future, an idea he has supported in the past.

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

Wozniak has previously revealed that he sold off all his bitcoin when it hit $20,000 as he didn’t want to be weighted down by constantly checking the price. This is an opinion he reiterated by saying that he wasn’t interested in bitcoin as an investor but merely wanted to try it out as a form of payment.

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

Fearful Moves

Wozniak also talked about the current market volatility and how he feels it is driven by fear and physiological reactions. This can be seen in the last week when the markets saw a spike following the announcement of new crypto by JP Morgan, only to experience a dip a few days later.

To a certain extent, users of bitcoin can be put into two categories. There are people who are investing in it as a means of making money and there are those like Wozniak who simply want to use bitcoin to pay for things. The market is, for now, largely dominated by the former due to its volatility and the possibility of a future market spike. Some who fall into the latter category might choose, like Wozniak, to abstain from the bitcoin market until more stability is achieved.

Despite this, Wozniak has invested in the blockchain. In 2018, he announced the launch of EQUI Global, a blockchain-based venture capital firm. This was a significant move because, as Wozniak has pointed out, he gets many business proposals each day and this marked the second time in two decades he actually acted on any of them.

Perhaps this is an indicator that even the most optimistic people like Wozniak feel more comfortable investing in blockchain than crypto itself.