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Bitcoin Is Better than Gold, Says Apple Co-Founder Steve Wozniak

UTC by Oluwapelumi Adejumo · 3 min read
Bitcoin Is Better than Gold, Says Apple Co-Founder Steve Wozniak
Photo: Gage Skidmore / Flickr

Wozniak does not hold Bitcoin, however, he has been an ardent supporter of the digital asset.

Steve Wozniak, the co-founder of leading tech company Apple, has declared his support for Bitcoin calling it “the most amazing mathematical miracle” during an event at the Jalisco Talent Land Digital. This was made via a El Sol de México report.

According to the tech whiz, Bitcoin’s scarcity makes it more precious than gold. In his words, “we keep finding gold. One day, we will manufacture it in factories.” The leading digital asset, on the other hand, has a fixed number; the supply of the digital coin is limited to only 21 million, and currently, over 18 million of it have been mined already.

Wozniak Explains His Thoughts on Bitcoin

This means that the BTC is a scarce commodity that is not easily obtained. The difficulty level of mining the asset, though currently low because of the hostilities against the industry by the Chinese government, has been at an all-time high in previous times.

Surprisingly, Wozniak does not hold the digital asset, however, he has been an ardent supporter of BTC. One time in 2018, he stated that he would love if Bitcoin could become the single currency of the world.

The tech maverick was also quoted to have said that, “Bitcoin to me was a currency that the governments did not manipulate.” He added that “It is mathematical, it is pure, it can’t be altered.”

According to a report, the computer legend who launched his cryptocurrency company Efforce said that artificial intelligence (AI) and augmented reality (AR) could also change people’s lives for the better.

It is interesting to know that Wozniak became a former fan of the asset, having had his holdings stolen through fraud. Wozniak had said that “Somebody bought them from me online through a credit card, and they canceled the credit card payment. It was that easy. And it was from a stolen credit card number, so you can never get it back.”

Bitcoin Is Gaining Acceptance

The acceptance and adoption rate of Bitcoin has grown exponentially this year. We have seen the flagship coin being invested in by top companies and financial institutions that hitherto had registered their displeasure about the coin have been forced to have a rethink about the asset.

Also, El Salvador recently made the digital gold a legal tender in the country. This means that citizens of the country could choose to pay for their goods and services in the asset. Apart from that, other countries like Argentina, Paraguay, Mexico and a host of others are also contemplating making the asset an acceptable currency within their jurisdiction.

A recent UBS survey also showed that 11% of central bankers think that Bitcoin is an acceptable alternative to gold.

Bitcoin News, Commodities & Futures, Cryptocurrency News, Market News, News
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