Steve Wozniak describes Bitcoin as "pure gold"

Steve Wozniak has shared his appreciation of Bitcoin in an interview where he described the cryptocurrency as “pure gold”. 

In the interview with Business Insider, Apple co-founder Steve Wozniak spoke about what he considered when investing, noting that many cryptocurrencies are “rip-offs”. Wozniak also added that many new crypto tokens are taking in new investors by using celebrity endorsements. 

“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.”

He added:

“They might be another Apple, and you can't see it yet. There's no way to calculate it in a spreadsheet."

While he was sceptical of many cryptocurrencies, Wozniak revealed he is a fan of Bitcoin, describing it in particularly colourful terms: 

“Gold is limited and you have to look for it; Bitcoin is the most amazing mathematical miracle.”

In an interview with Yahoo Finance in October last year, Wozniak described Bitcoin as “mathematical purity”, noting that he is a firm believer in the use of crypto as payments, and that Bitcoin in particular has a great amount of value.

“Look at the U.S. dollar; the government can just create new dollars and borrow; it’s like you never have it fixed, like Bitcoin. Bitcoin is mathematics, mathematical purity. There can never be another Bitcoin created.”

The Apple co-founder launched his own energy efficiency cryptocurrency company in December 2020 called Efforce. In October the same year, Wozniak stated his belief that eventually states would try to ban Bitcoin if it becomes too big.

“The trouble is governments will never allow it to be out of their control. If it got to the point where everything is being done in crypto and didn’t pass through governments for observation and taxation and all that, governments would just disallow it. They wouldn’t give up their power” 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.