During an interview with Seth Godin at the Nordic Business Forum in Stockholm, Steve Wozniak claimed that he is one of the very few who managed to sell all their bitcoin at $20,000.
Wozniak had been known as a bitcoin holder since June 2017. Back then he claimed he bought his stack at a price of $700, which means his $20,000 sale would have landed him more than 28 times his initial investment.
However Wozniak, whose net worth is estimated in the hundreds of millions of US dollars, was never interested in the asset’s price action. Instead, his motivation to buy was his own fascination with the idea, the economic breakthrough and the technology.
In fact, the hype around the price appears to be his main reason to get rid of his holdings. In his own words:
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…
…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 travelSteve Wozniak, Nordic Business Forum, Stockholm, January 24
While few holders can claim that they’ve reached financial independence to the point where they don’t care about the price of bitcoin, Wozniak’s words contain a lot of wisdom and practically reiterate Warren Buffet’s iconic advice:
Be fearful when others are greedy and greedy when others are fearful
As for Wozniak, his timing puts him next to active trader Jeff Berwick, who also managed to correctly time the point in which being fearful was advisable. And while judging by Wozniak’s statements, he is unlikely to ever return to holding bitcoins, Berwick’s recent switch from fearful to greedy again might be a sign that the price bottom is near.