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Steve Wozniak, the co-founder of Apple, one of the world’s most valuable companies, thinks Bitcoin will, in the future, rally to as high as $100,000.
Bitcoin May Rally Because People Are Interested
In a recent interview posted by Documenting Bitcoin on Twitter, the entrepreneur explained that he couldn’t place any mathematics or science behind his prediction but remains upbeat about Bitcoin’s future. His confidence in the legacy blockchain and its coin stems from how people are interested in the platform and its stability.
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Bitcoin is a peer-to-peer network that allows people to transfer value without relying on an intermediary like a bank or a processor. As of February 24, Bitcoin had a market capitalization of over $459 billion and is the most valuable cryptocurrency. Part of this is because people trust the coin.
Since launching in early 2009, it has never failed and maintains a high-reliability score close to 100%. It is this stability that Steve thinks is interesting.
It is estimated that only a tiny percentage of the world’s population holds Bitcoin and cryptocurrencies. However, considering the increasing popularity of Bitcoin, crypto, and blockchain, especially innovation in finance and digital ownership through DeFi and NFTs, the number of BTC and crypto holders will likely increase in the years ahead.
Anchoring this preview, the number of unique Bitcoin addresses has increased since launch, mirroring the general valuation of the entire crypto scene.
However, while Steve remains upbeat about Bitcoin and the space’s prospects, he doesn’t hold a big bag. He isn’t interested in making money from the coin. Instead, as he said during the interview, he’s excited about using the coin and experimenting with how it can be used as a utility in the real world. However, he is not invested in BTC or stock. Presently, Steve holds less than 1 BTC.
A Medium Of Exchange That’s Legal Tender In El Salvador
Bitcoin, in its whitepaper, was initially designed to be a means of exchange, electronic money. Over time, it has morphed into a store of value, an alternative to gold. Still, many users prefer the coin to move value across borders considering its speed, trustless nature, and high reliability.
Related Reading: Is Bitcoin Price Building Another Parabolic Rally?
In El Salvador, Bitcoin is legal tender, joining the ranks of other reserve currencies, like the USD.
Only time will tell whether BTC will rally to hit $100,000 or drop to $0, as no-coiners like Nouriel Roubini, the economist, say.
Currently, the coin is trading at $23,901 and has been relatively stable in the past week.
Feature image from Canva, Chart from TradingView