Steve Wozniak, the co-founder of Apple, has reiterated his positive position on Bitcoin (BTC) in spite of not owning the cryptocurrency. The Woz, who once considered it the “only digital gold,” alluded to BTC as a “miracle of technology” and a “unique mathematical formula” while speaking at Talent Land Digital 2021, a virtual event in Latin America committed to innovation and development.
The Woz has long been a supporter of BTC, even calling it superior to gold. In addition to its intrinsic value, it is also better than gold because it’s easier to mine. Wozniak explains that gold is limited and mining it requires significant time and resources just to locate a deposit. Even though he admits to not having purchased cryptocurrency, he is certain that it is here to stay.
Numerous industry players and examiners have alluded to BTC as digital gold, as both gold and the cryptocurrency have a restricted supply. This helps both retain their value on the market. Gold is limited by its physical supply and its mining difficulty, while BTC is limited to 21 million tokens. When the last token is minted in 2140, it won’t be possible to create any more.
Wozniak’s comments come not long after Ricardo Salinas Pliego, the third-wealthiest man in Mexico, asserted that it’s absolutely correct to allude to BTC as the new gold. However, he went a step further and said that it’s better because it is more versatile and easier to work with than gold. Shipping BTC from Mexico to India takes only a few seconds and costs a few dollars, while shipping gold the same distance costs thousands of dollars and requires a couple of weeks.
The Woz has given comparable remarks on BTC already, asserting in 2018 that the digital currency is unadulterated digital gold. He has also admitted to tentatively believing Twitter CEO Jack Dorsey’s assertion that, ultimately, BTC will become the only currency used on the Internet.