Paypal Co-Founder And Apple Co-Founder Both Bullish On Bitcoin

Paypal Co-Founder And Apple Co-Founder Both Bullish On Bitcoin

Bitcoin has had a good year, it’s had it’s usual share of criticism and negativity from some big time investors and banking types, however, it’s also had a huge amount of positivity from actual successful Business Founders and Entrepreneurs

Just this week we have seen the co-founders from two of the biggest companies on earth praise the potential that Bitcoin has.

First there is Apple Co-Founder, Steve Wozinak, on CNBC’s Money 20/20 even in Las Vegas last weekend he has said he believes Bitcoin is a better standard of value than both gold, and the U.S Dollar. This is quite a bold statement to make, although a statement which echoes what those within the Crypto-sphere have been saying for years.

“There is a certain finite amount of bitcoin that can ever exist. Gold gets mined and mined and mined. Maybe there’s a finite amount of gold in the world, but cryptocurrency is even more mathematical and regulated and nobody can change mathematics,”

Then at the Future Investment Initiative in Saudia Arabia, Paypal co-founder Peter Thiel stated that he believes Bitcoin could be the digital equivalent of gold, he went on to say that many critics are underestimating the potential Bitcoin has.

“If bitcoin ends up being the cyber equivalent of gold it has a great potential left,” he said, “Bitcoin is mineable like gold, it’s hard to mine, it’s actually harder to mine than gold. And so in that sense it’s more constrained,”

He went on to say how he was skeptical of many of the other cryptocurrencies out there:

“I’m skeptical of most of them (cryptocurrencies), I do think people are a little bit … underestimating bitcoin especially because … it’s like a reserve form of money, it’s like gold, and it’s just a store of value. You don’t need to use it to make payments,”

Other big name supporters of Bitcoin include Richard Branson, the mastermind behind the Virgin brand, Bill Gates, do we really need to say anymore about this one, John Mcafee the creator of the anti-virus software under the Mcafee name.

But the proof as they say, will be in the pudding – lets see where Bitcoin is one year from now, unless a major security risk is exposed or something mind blowing comes along to supersede Bitcoin we can’t see it going any direction but up in the long term.

2017-10-26T22:38:17+00:00

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