Home Cryptocurrency Bitcoin is a miracle and better than gold, says Apple co-founder Wozniak

Bitcoin is a miracle and better than gold, says Apple co-founder Wozniak

by Gordon James

One of the most important inventions of all time, Bitcoin was the first decentralized digital currency, designed to be a free-market peer-to-peer electronic cash system. It was created by a mysterious programmer known simply as Satoshi Nakamoto, who wanted to introduce the concept of digital money that isn’t controlled by a single entity.

Business Insider recently reported that Apple co-founder Steve Wozniak believes Bitcoin is the best type of currency right now. It is super secure, fast and as the world moves to digital merchants, it may be a better currency than gold.

Apple co-founder Steve Wozniak has reportedly reiterated his positive attitude towards bitcoin (BTC), despite not investing in bitcoin himself.

Wozniak, an ardent supporter of bitcoin who once called it the only digital gold, reportedly called bitcoin a marvel of engineering and a unique mathematical formula during Talentland Digital 2021, a major virtual event in Latin America dedicated to technology and innovation.

According to a report published Thursday by local media El Sol de México, the Apple co-founder also said that bitcoin is better than gold, meaning that mining bitcoin blocks is easier than finding and mining gold :

Gold is limited and must be sought. Bitcoin is the most incredible mathematical marvel. I don’t invest in bitcoin, but I think it’s a keeper.

Many industry players and analysts refer to bitcoin as digital gold because both gold and bitcoin have a limited supply, which allows them to maintain their value in the market. While gold is limited by its physical supply and the difficulty of mining, bitcoin’s mining is limited by its source code to 21 million coins, meaning there will be no new bitcoin after the last coin is mined in 2140.

Related: Bitcoin is on the inevitable path to reach the market value of gold – Mike Novogratz

Wozniak’s comments came shortly after Ricardo Salinas Pliego, Mexico’s third richest man, said there was every reason to call bitcoin the new gold. That’s absolutely right, bitcoin is the new gold, but it’s much more portable, it’s much easier to carry bitcoins around than to have gold bars in your pockets, the billionaire businessman said.

Wozniak has previously made similar comments about bitcoin, stating in June 2018 that only bitcoin is pure digital gold. The tech guru said he believed the comments of Twitter CEO Jack Dorsey, who has repeatedly said that bitcoin will become the sole currency of the internet.

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