Apple, Inc. AAPL cofounder Steve Wozniak, who recently said Bitcoin BTC/USD is the only cryptocurrency that's "pure gold mathematics," has an ambitious price target for the apex crypto.
What Happened: Bitcoin has a price target of $100,000 in its sights, the former Apple executive suggested on "Steve-O's Wild Ride," a podcast hosted by the Jackass star.
"I think bitcoin is going to a hundred thousand," Wozniak said.
"I don't know where I get that feeling. I can't put any math to it. I really feel it is based on all the interests. The interest in the crypto is so high."
Bitcoin is safe because it's "the big elephant on the block" and it is stable, Wozniak said. He also said he bought Bitcoin at the start to see how it works and learned to play with the novel asset. When Bitcoin began to rally, he sold all his Bitcoin holding except for one, he added.
Why It's Important: Wozniak endorsed Bitcoin in an interview with Business Insider earlier this week with his "pure-gold mathematics" comment, even while expressing his skepticism over altcoins.
The Apple cofounder echoed a similar sentiment in October 2021, when he said Bitcoin is "mathematical purity" and can't be copied, during a Yahoo Finance interview.
"There can never be another Bitcoin created," he declared.
Wozniak highlighted the limited supply of the crypto vis-à-vis the unlimited supply of fiat currencies, which can be minted and borrowed.
After rallying to a peak of $68,789.62 in early November 2021, Bitcoin has been going downhill, pressured by a host of factors. Although the Ukrainian war brought to the fore the use case of Bitcoin as a means of empowering individuals with the financial freedom in times of crisis, the price of the crypto hasn't taken off from the lackluster phase.
At last check, Bitcoin was trading down 1.11% at $39,172.27.
Photo: Courtesy of Gage Skidmore on Flickr
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