Steve Wozniak is the famous co-founder of Apple Inc. He is famous for his work as a leading figure in personal computer movement. In a recent interview, he revealed that he sold all his Bitcoins holdings in late 2017. He revealed this to an audience at Nordic Business Forum in Stockholm on 24th January 2018.
Experimenting with Digital Currency
Steve revealed that he got into Digital currency when it was priced at around 700 USD. According to him, he didn’t invest in Bitcoin to make profits. Rather, he got into crypto trading to understand blockchain platform. He also said that the difficulty of using Bitcoin discouraged him from investing at 70USD per coin. Once Bitcoin was easy to use and retailers began to adopt the currency, Wozniak felt it was time to experiment. He clarified “It’s not that easy to do yet, but it’s getting there. I was just playing around trying out how to buy and sell stuff. I didn’t care I lost a ton of money, but now I’m way up.”
Reason for Selling
In his reasoning, Steve explained that he didn’t like the idea of constantly checking the value of his holdings. He cited his lack of interest in material wealth as the main reason behind this decision. During the panel, he said:
“I don’t want to be one of those people who watches and watches it and cares about the number, I don’t want that kind of care in my life. I’ve never been into money in any way. I’ve never used Apple’s stock app, I don’t buy and sell stock.”
Support to Bitcoin by Wozniak
Steve has served somewhat as an advocate for Bitcoin in the past. In statements to CNBC in October 2017, Wozniak praised the fact that Bitcoin is non-dilutable. In this conference, he compared Bitcoin to both traditional currencies and gold. He said that “Gold gets mined and mined and mined, and maybe there’s a finite amount of gold in the world. But Bitcoin is even more mathematical and regulated and nobody can change mathematics.” Despite cashing out on Bitcoin, Wozniak is still a supporter of blockchain technology. The tech also has major implications outside of the world of finance. And even the Bill & Melinda Gates Foundation have expressed praise for its potential.