Bitcoin Is ‘Pure-Gold Mathematics,’ Says Apple Co-Founder Steve Wozniak 14

Bitcoin Is ‘Pure-Gold Mathematics,’ Says Apple Co-Founder Steve Wozniak

  • Apple co-founder called bitcoin “pure-gold mathematics.”
  • Wozniak has previously offered similar praise about bitcoin, touting its mathematical purity.
  • He is more cautious about altcoins and NFTs, saying that they can be predatory.

Apple co-founder Steve Wozniak has offered effusive praise on Bitcoin, saying that it is “pure-gold mathematics” in an interview with Business Insider. Wozniak went on to say that bitcoin could be here to stay because of its strong underlying technology.

Wozniak has offered praise on bitcoin on multiple occasions, often saying that it was impressive as a technology. In July 2021, he made similar remarks, saying that bitcoin was a “mathematical miracle” and that it was better than gold. He is reported to have bought bitcoin when it was about $700, though there is no information on his total holdings.

However, he was much more cautious about other cryptocurrencies and Non-fungible Tokens (NFTs). Like others, he warned about the greedy, money-grubbing nature of some projects, saying,

“There’s so many cryptocurrencies that come out now; everybody has a way to create a new one, and you have a celebrity star with it. It seems like they’re just collecting a bunch of money from people who want to invest at the very earliest stage, when it’s worth pennies.”

Can Bitcoin Become a Quasi Global Currency?

Wozniak has said in the past that he would appreciate it if bitcoin were to become a single global currency, though he doesn’t necessarily believe it’s going to happen. Block CEO and founder Jack Dorsey certainly seems to think so, having also called it the currency of the Internet.

There is some credence to that idea as incumbent companies join the digital currency revolution. PayPal, for instance, has joined the crypto bandwagon and moved towards crypto adoption.

The idea of bitcoin being a mathematical wonder is often expressed in the argument for it being digital gold. Being decentralized and lacking human intervention, some have called it more “natural.” Many younger individuals certainly seem to think so about the asset, and there is a marked shift towards bitcoin over gold.

However, it is unlikely that bitcoin will be globally accepted by governments as some form of currency. Rather, they seem to be happy to accept it as an alternative asset, but not one that has a strong role in economies. In the meantime, retail investment in bitcoin seems to be moving forward. Furthermore, the cryptocurrency’s correlation with precious metals — gold, silver, and platinum —is at an all time low level.