Back to the list

Apple Co-founder Says Investing in Bitcoin is Safer Than NFT

source-logo  coinedition.com 06 February 2024 11:27, UTC

Tech icon and Apple co-founder Steve Wozniak has argued that Bitcoin is a safer asset class compared to other digital assets, such as non-fungible tokens (NFTs). Wozniak shared this sentiment in a podcast, spotlighted recently by the X account Documenting Bitcoin.

Apple co-founder Steve Wozniak says,
"#Bitcoin is safe, stable, and conservative”pic.twitter.com/BcRDYG8L3d

— Documenting ₿itcoin 📄 (@DocumentingBTC) February 6, 2024

During the discussion, the host sought his opinion about the future dominance of cryptocurrencies over fiat currencies. In response, Wozniak highlighted the enduring nature of traditional financial systems rooted in human history, noting the unlikelihood of crypto taking over entirely from fiat.

On this premise, Wozniak expressed concerns about the rampant exploitation trend within the crypto space. He highlighted the proliferation of scams and fraudulent schemes in the cryptocurrency and NFT markets targeting unsuspecting investors.

He mentioned numerous instances of individuals being duped by opportunistic founders, who often use celebrity endorsements to lure people. One cited case involved Kim Kardashian, a prominent celebrity who promoted EMAX tokens, against whom the U.S. has filed charges.

However, the Apple co-founder reserved praise for Bitcoin. He stated that Bitcoin is safe compared to the broader market, where rip-offs abound. He hailed it as the “big elephant on the block” and a beacon of stability.

Wozniak attributed Bitcoin’s resilience to its established presence and conservative appeal, likening it to a cornerstone of investment prudence.

Meanwhile, he expressed reservations about speculative investment in general. Yet Wozniak admitted to dabbling in Bitcoin during its nascent stages. He noted that he was primarily driven by a curiosity to explore the mechanics of digital transactions.

He avoided using Bitcoin purely as a means of generating profit. Nonetheless, Wozniak expressed confidence about BTC surging to $100,000.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.