In a recent report, Goldman Sachs analysts have stated their massive disapproval towards BITCOIN. However, APPLE Inc. Cofounder Steve "The Woz" Wozniak takes charge of the vastly criticized Cryptocurrency and gives an astonishing forecast that caused great furore within the capital markets.
If you follow up with Steve "The Woz" Wozniaks announcements, you might know, that the notorious APPLE Inc. Cofounder and technology entrepreneur does not mince matters when it comes to making public statements.
Las Vegas, NV. The "Money 20/20" Conference where Capital Analysts discussed the future of financial technologies such as BITCOIN and the evolution of currency per se has left a plethora of new ideas and impression. However, the the vast majority of financial analysts did not see coming what surprising statement financial guru Steve Wozniak would make about Cryptocurrencies - a polarizing hypothesis about BITCOIN.
APPLE Inc. Cofounder strikes out: "BITCOIN is better than Gold and US Dollar!"
On Wozniak' s opinion Cryptocurrency is provably better than the ancient asset Gold - and even better than the US Dollar. He thereby opposes a recent Goldman Sachs report that depicts Gold as a safe, stable and profitable asset whereas BITCOIN is characterized as an empty, unreliable venture showing risky fluctuations. The disapproving Goldman Sachs analysts further state that Gold is a finite resource whereas BITCOIN could be infinitely mined.
Wozniak concludes: "BITCOIN is limited and therefore more valuable than Gold"
However, the APPLE Inc. Cofounder does not share Goldman Sachs' opinion - in his point of view, it is just the other way around meaning that Gold could be infinitely mined and refined whereas the total supply of BITCOIN is strictly limited per algorithm. Furthermore he states that the Cryptocurrency is comprised of immutable mathematical principles and is therefore well regulated. Even in a comparison with the US Dollar, BITCOIN performs better as banknotes could basically be printed infinitely by banks.
Therewith, Steve Wozniak clearly joins the alliance of Crypocurrency enthusiasts including important figures such as John McAfee who once labeled the US dollar as a fraud.
Financial Analyst Ronnie Moas (Standpoint Research) believes that BITCOIN could be more valuable than APPLE Inc. within the next 5 years.
However, could APPLE Inc. Cofounder even share the opinion of financial analyst Ronnie Moas (Standpoint Research)? He genuinely believes that BITCOIN could exhibit a greater market capitalization that APPLE Inc.
A comparison: The Tech-giant is currently the world's most valuable company with a total market capitalization of 806 Billion USD. If BITCOIN reached a similar market capitalization, the net worth of a single BITCOIN would amount to 50.000 USD. In a recent CNBC interview Moas explained: "As to me, the supply and demand ratio is strictly unbelievable. Almost 200 Million people around the globe are currently striving for few Million BITCOINS."
BASIC, PLAIN and SIMPLE
Liked this article? Subscribe and upvote for more high-quality-only #CryptocurrencyNews and #TechnicalAnalysis.