Bitcoin NewsBusiness and FinanceCryptocurrencyNEWSOpinion

Wozniak Joins the “Bitcoin-Only” Brigade

Steve Wozniak, the co-founder of Apple is a big supporter of Bitcoin. The tech luminary affectionately dubbed “Woz” is the latest member of the burgeoning “Bitcoin only” brigade. In the vast world of cryptocurrencies, there are those who believe that Bitcoin is the be-all and end-all of the cryptocurrency universe.

Bitcoin as the Single Global Currency

According to Wozniak, Bitcoin has the potential to become the single global currency of the future. Despite the current struggles of the number one cryptocurrency since reaching its peak in late 2017, Woz is bullish about the prospects of BTC. In an interview with CNBC, he declared:

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.

Wozniak’s agrees with recent the remarks made by Twitter CEO, Jack Dorsey who is himself another BTC believer. In March 2017, the Twitter boss said that BTC could become the native currency of the internet. Dorsey is a known cryptocurrency proponent. He is also the CEO of Square, one of the prominent Bitcoin trading companies in the cryptocurrency market.

Wozniak in siding with Dorsey’s views even goes several steps further. He proposes that BTC ought to be more than an internet currency, but rather, the currency for both online and offline transactions all over the world. Enforcing this belief, the Apple co-founder proceeded to say:

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.

Bitcoin is Superior to Gold and Fiat

This isn’t the first positive declaration that Wozniak has made concerning Bitcoin. In fact, he has in the past said that Nakamoto’s creation is better than gold and fiat money. Speaking in October 2017, Wozniak identified the fixed supply as well as the mathematical protocols that control the way it operates as the factors that make it superior to gold and even the U.S. dollar. Elaborating on the matter, Wozniak said:

There is a certain 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.

Wozniak Joins the "Bitcoin-Only" Brigade 1

Wozniak’s Bitcoin enthusiasm hasn’t come without a price though. In March 2018, he revealed that he was defrauded of seven BTC by internet fraudsters. Despite this mishap, Wozniak is undeterred in his support for the cryptocurrency. He only owns one BTC having sold the others after becoming disillusioned with the volatile nature of the market. Wozniak first bough BTC when they were trading for about $700.

The Apple co-founder is also a big fan of Ethereum. In May 2018, he compared ETH to the way Apple was back in the 80s. He also said he believes Ethereum can revolutionize the digital application creation process.

Do you agree with Wozniak that Bitcoin will be the single global currency of the future? Keep the conversation going in the comment section below.

Image courtesy of Ethereum World News archives and CoinMarketCap.

About author

For quite by chance, I discovered Bitcoin in 2010 and I have been an ardent enthusiast ever since. I enjoy cryptography, mathematics, and theoretical physics. If I am not writing about cryptocurrency, I am attempting to beat my scrabble high score.
    Sign up for our Newsletter