Steve Wozniak, who co-founded Apple with Steve Jobs, is known to be supportive of innovations. He made the comment during an interview with the Insider, calling the technology behind Bitcoin “Pure-Gold Mathematics”.
This is not the first time that the inventor has praised Bitcoin. In an earlier interview during a tech summit last summer, Wozniak described Bitcoin as a mathematical miracle in an allusion to the underlying cryptography behind the operation of the best-known cryptocurrency.
What of Many Other Digital Currencies?
Wozniak however raised concerns about many other digital currencies and non-fungible tokens that pervade the crypto sphere, stating that these may have no intrinsic value, but products of malicious actors who want to take advantage of the popularity of cryptocurrencies for pecuniary reasons.
According to him, what is obtainable these days is that there are many people who have the knowledge of how to build cryptocurrencies and that these people are taking advantage of investors’ interest to promote their coins using celebrities. The objective of these crypto or NFTs teams is just to make money off the investors who are eager to buy in as early birds.
He said that:
“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”
Comparing Bitcoin With Gold
Even though Wozniak did not explain what he meant by Bitcoin being “pure gold mathematics” it is not unusual to hear people compare BTC with gold. Some of the comparisons highlight the fact that bitcoin and gold have limited supplies. They are also deflationary, the reason why many proponents of the cryptocurrency have described it as a store of value. This is despite the volatility associated with Bitcoin.
This perception could be the reason why many institutional investors are looking towards digital currencies. At the beginning of 2022, a Goldman Sachs report stated that Bitcoin will continue to increase its market share at the expense of gold.
Supportive of Crypto
Wozniak is not really an outsider as far as the cryptocurrency space is concerned. He has shown a keen interest in the industry and even supported crypto projects.
It is interesting that Wozniak has always singled out BTC with the mathematical description while giving support for blockchain technology in general. He is also an advocate of startup investment for the majority of the people.