Although Wozniak considers that states would eventually want to ban Bitcoin, he believes it is mathematically pure. The Apple co-founder condemned the enormous number of cryptocurrencies on the market, calling most altcoins scams.
Apple co-founder Steve Wozniak recently praised Bitcoin (BTC), describing it as pure gold math. However, he was not impressed with cryptocurrencies in general as he does not find them trustworthy.
Although Wozniak has long been a fan of the Metaverse, he does not believe in the benefits offered by NFTs and altcoins.
Steve Wozniak Praises the Mathematical Purity of Bitcoin
Steve Wozniak thinks it is possible to consider several leading cryptocurrencies to outline an economic strategy. However, he can only describe Bitcoin as the only pure-gold crypto asset.
Despite that, Wozniak said that states would eventually want to ban Bitcoin and explained that there would never be another cryptocurrency so mathematically pure.
The famous programmer believes that the problem is that governments will never allow Bitcoin to be out of their control. He explained that they would reject it if people conducted all their transactions without supervision or payment of taxes.
The Programmer Calls Most Cryptocurrencies Frauds
The renowned electronics engineer does not favor the general cryptocurrency industry very much.
The Apple co-founder condemned the enormous number of cryptocurrencies that enter the market daily, calling most altcoins scams.
He commented there were too many new cryptocurrencies, sometimes promoted by famous stars. He considers that their developers only seek to collect money from those who want to invest when those projects are only worth a few cents.
Wozniak believes that people buy those cryptocurrencies because the idea of getting a big windfall blinds them.
For that reason, he urges buyers to research the founders of those startups thoroughly. He said there could be another Bitcoin among them, but it is impossible to see it in a spreadsheet.
In addition, Wozniak advised investors to approach startup founders with optimism, as spotting another Bitcoin is a challenge.
Wozniak Has Highlighted the Limited Issuance of Bitcoin
The Apple co-founder has reiterated his support for Bitcoin, noting that it will have limited issuance. In 2021, the computer programmer said that miners had already put more than 80% of the existing Bitcoin in circulation.
He admitted that he liked the idea that no one could create more Bitcoin and questioned the issuance of more US dollar bills. He stated that this influenced the value of the national fiat currency of the United States and led to inflation.
Bitcoin is trading at around USD 38,250 and has accumulated an 11.6% loss over the last week. Its daily trading volume is above USD 24.18 billion, and its market capitalization is about USD 725.48 billion, according to CoinGecko.
The pioneering cryptocurrency has become increasingly relevant in the economy, which regulators and governments do not overlook. While some try to regulate its use as money among citizens, others try to limit and even ban it.
By Alexander Salazar
