Apple Co-Founder Steve Wozniak Took Interest in Bitcoin When It Was Still Priced at $700
Apple co-founder Steve Wozniak invested in Bitcoin due to his interest in its core technology.
Since early 2017, Bitcoin has tripled its price and recently reaching an all time high of above $3,000. Though there are still several uncertainties and speculations that Bitcoin is a bubble, Wozniak seems to believe that Bitcoin has some growth factor to it.
Why did he invest?
Wozniak stated during the interview that he wasn’t investing in Bitcoins for monetary gains. Instead, he is curious as to how the technology works and how other people can make money through it. At that time when he invested, Wozniak made his first investment when Bitcoin was at $700 to which the price dropped at $350.
He was also curious as to how Bitcoin could be used for buying and selling goods as well as how it is being used to pay for services.
Curiosity in its underlying technology
Though his initial Bitcoin investment would have already made him a chunky profit if he sold them at its current price, Wozniak stated that one of his main curiosities was in Bitcoin’s underlying technology as the tech genius wanted to know how it works and how it facilitates security of the transactions.
With the increasing interest in Bitcoins, various industries are incorporating the underpinning technology to optimize their existing processes and disrupt their industry.
Future industry applications
According to an interview with Tapscott CEO, Don Tapscott, he thinks that the Blockchain technology will affect the whole world because it involves powerful protocol that can transfer financial transactions without having to go through powerful third party financial entities like banks.
In fact, Blockchain technology is seen to improve various sectors including finance, entertainment and even politics in the near future.