Apple’s Steve Wozniak Calls Bitcoin a Miracle, Claims it is Better than Gold

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Bitcoin is the first ever form of currency that isn’t controlled by a government or central bank. Bitcoin is also becoming increasingly popular around the world. It has a market cap of over $100 billion, is now accepted by thousands of merchants, and is even being used in some countries for cross-border payments. It has a daily trading volume of $3 billion and an annual trading volume of over $13 billion. In short, it is a remarkable success story.

Apple co-founder Steve Wozniak is not a fan of Bitcoin, and he has publicly criticized the cryptocurrency, but he has also said that he thinks Bitcoin is better than gold. He made the comments during an interview yesterday with the “CBS This Morning” show, in which he was asked if he saw anything wrong with Bitcoin. “I don’t think Bitcoin is a fraud,” said Wozniak. “It is better than gold.” But he quickly added, “I don’t think it should be used for anything other than a store of value.”

Apple’s Steve Wozniak Calls Bitcoin a Miracle, Claims it is Better than Gold

Steve Wozniak, the co-founder of Apple, has been a supporter of the crypto industry, and Bitcoin, specifically, for quite some time, now. Despite the fact that he did not invest in it, as far as it is known, he has been claiming for a long time that Bitcoin has massive future potential.

Bitcoin’s price crash that started two months ago and left it 50% below its ATH did not seem to have discouraged Wozniak too much, as he still praised the coin during the recent Talent Land Digital 2021 — a technology event held in Mexico. During his speech, Wozniak said that BTC is a miracle of technology, and unique mathematical formula.

El Sol de Mexico even wrote that Wozniak openly said that Bitcoin is better than gold, pointing out that gold is too limited and people have to look for it. Bitcoin, on the other hand, is ‘the most amazing mathematical miracle.’ Wozniak then openly admitted that he did not invest in Bitcoin, but he still counts himself among the believers in the coin’s future.

Of Bitcoin and Gold

Bitcoin has had the nickname of digital gold for years now, and not just because they are both scarce and supposedly have a limited supply. Bitcoin’s total supply is known to us, although the total supply of gold is still not a certainty. When it comes to BTC, it can only ever have 21 million tokens. The two are also similar by not having any central authority issuing them. They both enjoy very liquid markets when it comes to exchanging them for traditional currencies.

With that many similarities, it is clear why Wozniak prefers these assets over anything else. However, he still says BTC is better, likely due to the possibility to use it in cheap transactions that are much faster than fiat transactions. It is also much easier to safely store it than gold. Plus, there’s the fact that gold’s total supply truly is unknown.

Wozniak’s History with Crypto

Wozniak has been supporting Bitcoin for years now. In 2018, he said that he hopes that Bitcoin will someday become a single global cryptocurrency. He admired it even back then, as the coin was not run by any single human, company, government, bank, and alike. This admiration towards crypto inspired him to launch a company, Efforce, and its native coin, WOZX. The company functions as a marketplace enabling firms to undertake energy efficiency pleasures at no cost, and invest their liquidity in more important tasks. Meanwhile, the company uses WOZX to securitize energy savings.

His excitement about Bitcoin even pushed Apple to a group of some of the largest corporations that are experimenting with digital currencies. At some point, it came up with a job post called ‘Business Development Manager — Alternative Payments.’ This was back in May 2021, meaning that the company might be investigating the possibility of crypto payments.

Of course, this is still pure speculation, as there are no details that the company has shared with the public as of yet. Still, it is encouraging to know that one of its founders is excited about the prospects of Bitcoin, instead of simply dismissing it and claiming it is fake money.

Billionaires are Getting Excited About Crypto

Wozniak is not the only one excited about Bitcoin, of course. Billionaire Mike Novogratz, who also acts as the CEO of Galaxy Digital, has been a very vocal Bitcoin bull for years. However, as of late, he seems to be more excited about Ethereum, rather than BTC itself. It is possible that DeFi caused him to believe that Ethereum has a greater range of possibilities, and as such, that it has greater potential for future growth.

Elon Musk was also impressed with BTC — enough for his electric car company, Tesla, to start accepting it for a brief period. However, Musk then said that Tesla has concerns about Bitcoin not being green enough, so he stopped BTC payments. Still, he did not give up on crypto, as he still remains a major supporter of Dogecoin.

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Emilia James
By Emilia James

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