- Apple Co-founder Steve Wozniak has announced that he has sold all his Bitcoin
- He says he sold due to market instability causing him anxiety
The price of Bitcoin has been on a bit of a roller coaster in the last few years. It reached a high of around $20,000 in late 2017, lingered around $6,500 for most of 2018 before it experienced a slump at the end of the year and is now below $4,000.
As a result of these, many bitcoin holders and traders are forced to watch the market on a daily basis, anticipating any possible movement.
One person who has given up on watching the bitcoin price, however, is Apple Co-founder Steve Wozniak who says he has sold off all of his bitcoin.
Selling His Stock
Wozniak made this revelation at the Nordic Business Forum in Stockholm.
According to him, he entered the bitcoin market out of curiosity when a Bitcoin sold for $700. However, with all the commotion surrounding its fluctuating price in recent times, Wozniak got fed up and sold off everything.
“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,” Wozniak said
His reasoning behind this is that he values his peace of mind and holding bitcoin was detrimental to that. He had previously said that he felt Bitcoin could be a better store of value for the US than gold and that he was looking forward to spending it freely around the globe.
“My goal was to travel to a place like Stockholm, and go to restaurants and hotels that only accept bitcoin, and only use bitcoin when I travel,” Wozniak said.
Wozniak did not disclose just how much bitcoin he bought and how much it was sold for but it is believed that he made some profit off his sale.
Too Much Commotion?
In the world of cryptocurrency, there are people who want to use crypto to pay for goods and services as they would they would with fiat currency and these are those who enter the market with the intention of making a profit.
For the former, the instability of the market could be a turn-off and some might opt to leave the market until long term stability is achieved and the value of crypto is as stable as fiat currency. For the latter, the commotion of the market might be appealing.