Apple co-founder Steve Wozniak has spoken out about Bitcoin in a revelation that many would consider bullish in sentiment. Wozniak, in an interview with Bloomberg, has said of the coin that “we’ve seen massive value creation.”
He also puts most of the market volatility down to fear-mongering and psychology.
Apple’s Steve Wozniak
The co-founder of Apple has always spoken highly of the coin and once said it would become the world’s single currency.
The interviewer challenged him on this view asking him if he still had the same opinion considering “we’ve seen massive value destruction in Bitcoin.”
But to that question, Steve Wozniak remained as bullish as ever about Bitcoin by saying:
“I’m not sure I can buy that we’ve seen massive value destruction, I think we’ve seen massive value creation.”
Steve Wozniak and Bitcoin
The tech icon has owned Bitcoin in the past. In the interview, he elaborates on this saying that he only kept it to experiment with and to experience the coins development, not for profit or typical investment reasons. He explains how he sold it when the price got really high:
“I don’t want to be one of those people watching the price of Bitcoin, so I sold out.”
Although bullish on Bitcoin, Wozniak has been apprehensive about blockchain—the technology that underpins the digital asset—in the past. He has compared this industry as the next potential dot com bubble believing that many blockchain startups will inevitably over-promise and under-deliver as much as the computer industry did in the ’90s. At an event in New York in June last year, he said the following:
“A lot of the blockchain ideas that are really good by coming out early they can burn themselves out by not being prepared to be stable in the long run.”
On the ’90s hype over the growing computer industry, Steve Wozniak commented: “It was a bubble, and I feel that way about blockchain.”
Ripple to the Rescue
And while there is some potential truth in Wozniak’s concern, blockchain companies such as Ripple have been laying the groundwork in recent months to make sure that exact problem doesn’t happen.
Ripple has invested millions of its own hard-cash into a program called the University Blockchain Research Initiative (UBRI). The UBRI is focused on developing the upcoming generation of blockchain developers, ensuring the talent is there to keep this industry alive and growing.
At present, it has 28 universities attached to its self-funded $50 million USD initiative.
Do you agree with Wozniak about Bitcoin? Is he right to be bullish on the coin? Should we be more wary of blockchain hype?
Let us know!
Featured image: DepositPhotos © toxawww
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