Apple co-founder Steve Wozniak has joined an increasing list of tech luminaries, advocating for a future, where bitcoin is a dominant global currency. Although he admitted not being convinced that bitcoin will replace national currencies, he hopes that sometime further down the road this will be the case.
Speaking to CNBC, Mr. Wozniak revealed that he bought bitcoin when it was trading for around $700, a price that has increased more than 10 times as of right now. However, he admitted selling almost all his crypto holdings recently, keeping only one bitcoin and two ethereum coins. According to the famous developer, he only wanted to see how digital currency works as a means of payment and not become a crypto investor.
Referring to Twitter and Square CEO Jack Dorsey’s claims that bitcoin will soon become a single global currency, he chose a more reserved approach saying that, “I buy into what Jack Dorsey says, not that I necessarily believe it’s going to happen, but because I want it to be that way, that is so pure thinking.“
Mr. Wozniak went on to lavish bitcoin with praise claiming that “Bitcoin is mathematically defined, there is a certain quantity of bitcoin, there’s a way it’s distributed… and it’s pure and there’s no human running, there’s no company running and it’s just… growing and growing… and surviving, that to me says something that is natural and nature is more important than all our human conventions.“
He also touched upon other cryptocurrencies, further emphasizing his belief in bitcoin superiority as other virtual currencies must serve the companies that created them. According to Mr. Wozniak, “Only bitcoin is pure digital gold… and I totally buy into that. All the others tend to give up some of the aspects of bitcoin. For example, being totally decentralized and having no central control. That’s the first one they have to give up to try to have a business model.“
It is worth noting that Mr. Wozniak is also optimistic about the future of ethereum, claiming it ‘could be the next Apple’ a couple of weeks ago as it is a platform in addition to being a store of value.
Mr. Wozniak’s bullish outlook on cryptocurrencies was not hindered by the fact he has fallen prey to a crypto scam last year as he sold around bitcoin to a person using a stolen credit card number. When the payment was canceled by the actual owner of the card, he was left around 7 BTC short. Probably not the biggest deal for the co-owner of the world’s largest company but a nuisance nonetheless.
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I have been following the crypto markets since mid 2017, just in time to witness the incredible surge of the digital asset industry. Fascinated by the potential of blockchain technology I’ve started to dig deeper and that’s how I ended up meeting the Toshi Times team. I hold a Political Science degree, therefore the crypto regulation development is particularly interesting for me. I’m also heavily involved with music, running my own label, a YouTube channel and working with distribution. People call blockchain the ‘Fourth Industrial Revolution’ and I believe it will change our daily lives in the coming years and we will have the front row seats to witness it.