Steve Wozniak Says Bitcoin Has Seen Massive Value Creation

Steve Wozniak, the co-founder of Apple, commented on the current cryptocurrency market during a February 26 interview with Bloomberg Markets and Finance. When asked what he thought of Bitcoin’s potential, Wozniak said he thinks the coin has seen “massive value creation.”

When Bloomberg asked Wozniak if he still expects Bitcoin to become the world’s currency in the future after “we’ve seen massive value destruction in Bitcoin,” the entrepreneur countered:

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

Wozniak argued that the belief that Bitcoin has seen nothing but devaluation was a result of human psychology. He said that, more often than not, psychology is the driving force behind market dips and that fear is at least partially responsible for determining price in such conditions.

However, Apple’s co-founder noted that his point of view is one of a user, not investor. He clarified that he was not interested in Bitcoin “as an investor” and that he “only had Bitcoin to experiment with,” saying he only used the cryptocurrency as a form of payment.

Wozniak noted that he had sold all of his Bitcoin “when it went up high,” saying he sold out because he didn’t want to be “one of those people watching the price of Bitcoin.” He also noted that he has never invested in any stocks nor used the Apple stock app.

The engineer reiterated what he said in January 2018 in an interview with CNBC. Back then, the veteran developer said that be believed that Bitcoin is “pure digital gold.”

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