Steve Wozniak Dumps Entire Bitcoin Stockpile
The co-founder of Apple decided to sell all his Bitcoin holdings after getting disappointed with all the hype around the cryptocurrency's price.
The hype surrounding Bitcoin over the last two years has lured some prominent individuals into purchasing it. One of these people was Apple co-founder Steve Wozniak, who bought some coins back when the value sat at a comfortable $700. However, he is now totally Bitcoin-free.
At the Nordic Business Forum last week, Wozniak revealed he had sold his entire store of the coin, saying that all the hype surrounding its value had disappointed him.
“When it shot up high, I 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. Part of my happiness is not to have worries, so I sold it all and just got rid of it.”
He went on to emphasize that financial gain was not the motive behind his sale despite the fact that Bitcoin’s value has grown enormously since he bought it at $700 per unit.
Wozniak said he wanted to be able to travel around the world and make his purchases in Bitcoin rather than having to convert his dollars to different currencies.
If he had sold it yesterday, he would still have made gains of more than 2,000%. However, it isn’t quite as much as he would have pocketed if he’d cashed out towards the end of December, when Bitcoin’s value shot above $20,000 before collapsing under its own weight.
In the past, Wozniak was optimistic about Bitcoin and its potential.
At the Money 20/20 conference in Las Vegas last year, he said the cryptocurrency is better than gold or the dollar, calling the latter “phony”.
“There is a certain finite amount of bitcoin that can ever exist. Gold gets mined and mined and mined. Maybe there's a finite amount of gold in the world, but Bitcoin is even more mathematical and regulated and nobody can change mathematics,” as he then explained the logic behind his reasoning.