Apple co-founder predicts Bitcoin to hit US$100,000
The co-founder of technology giant Apple has predicted that Bitcoin will more than double in price based off market speculation alone.
Speaking on the Wild Ride with Steve-O podcast, Steve Wozniak said he has personally experimented with cryptocurrency but is not “in it to make money”.
“Just recently I think that Bitcoin is going to go to US$100,000,” Wozniak told the podcast.
“I don’t know where I get that theory – I can’t put any mathematics to it – I just really feel it from all of the interest in crypto.”
MR Wozniak – who co-founded Apple Inc. in 1976 with business partner Steve Jobs – said while he felt Bitcoin was safe because it was “the big elephant on the block”, there was a large amount of risk in people investing in cryptocurrencies.
“I think it’s being used a lot these days to rip people off,” Mr Wozniak said.
“(People will say) ‘I’ll start a crypto, I’ll hire an engineer that knows how to create it and I’ll get a celebrity to back it up. And we’ll put out the Kim Kardashian coin’ – or something like that.
“And I see this happening all the time where the founders of these coins pull out millions of dollars right away from investors that say, ‘I want to get in quick when it’s young because it’s going to grow like Bitcoin and I’ll make a billion out of pennies’.
“And then they jump in and it goes to zero. That’s the common story.”
Mr Wozniak’s comments come amid a near-standard rollercoaster week for Bitcoin, which has been see-sawing between a number of geopolitical issues and an equal number of prices.
“Bitcoin began last week trading in the range of US$38,000 before rallying midweek on the news of an executive order on crypto from US President Joe Biden’s White House, rising to above US$42,000,” eToro market analyst and crypto expert Simon Peters said.
“The executive order set out key aims for US institutions to lay the groundwork for better regulation, but contained little of real substance other than hints at a US digital dollar in the pipeline.
“Bitcoin’s price fell away quickly after the announcement and is now trading back in the US$38,000-US$39,000 range.”
One Bitcoin is currently worth just over US$41,000 ($56,000).
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