“My Gut Tells Me Bitcoin Will Go To $100,000”
Steve Wozniak, the co-founder of Apple, one of the world’s most valuable companies, believes that Bitcoin will rise to as high as $100,000 in the future.
Bitcoin can rally because people are interested
In a recent interview posted by Documenting Bitcoin on Twitter, the entrepreneur explained that he couldn’t place any math or science behind his prediction, but remains optimistic about Bitcoin’s future. His confidence in the old blockchain and its coin stems from how people are interested in the platform and its stability.
Bitcoin is a peer-to-peer network that allows people to transfer value without relying on an intermediary such as 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 its launch in early 2009, it has never failed and maintains a high reliability score of close to 100%. It is this stability that Steve finds interesting.
It is estimated that only a small percentage of the world’s population has Bitcoin and cryptocurrencies. However, considering the growing popularity of Bitcoin, crypto and blockchain, especially innovation in finance and digital ownership through DeFi and NFTs, the number of BTC and crypto holders is likely to increase in the years to come.
Anchoring this preview, the number of unique Bitcoin addresses has increased since launch, reflecting the overall valuation of the entire crypto scene.
But while Steve remains optimistic about Bitcoin and the space’s prospects, he doesn’t have a lot of baggage. He is not interested in making money from the coin. Instead, as he said during the interview, he is excited to use the coin and experiment with how it can be used as a tool in the real world. However, he is not invested in BTC or stocks. Currently, Steve has less than 1 BTC.
A medium of exchange that is legal tender in El Salvador
Bitcoin, in its whitepaper, was originally designed to be a medium of exchange, electronic money. Over time, it has transformed 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.
In El Salvador, Bitcoin is legal tender, joining the ranks of other reserve currencies, such as the USD.
Only time will tell if BTC will rally to reach $100,000 or fall to $0, as no-coiners like Nouriel Roubini, the economist, say.
For now, the coin is trade at $23,901 and has been relatively stable over the past week.
Feature image from Canva, chart from TradingView
