Apple Cofounder Steve Wozniak Says Single Global Currency Achievable with Bitcoin

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Apple Cofounder Steve Wozniak Says Single Global Currency Achievable with Bitcoin

Serial investor and Apple co-founder Steve Wozniak has expressed hopes bitcoin will one day serve as a single global currency.

“I buy into what Jack Dorsey says, not that I necessarily believe it’s going to happen, but because I want it to be that way, that is so pure thinking,” Wozniak told CNBC on Monday.

Wozniak was responding to a statement by twitter CEO Jack Dorsey’s who said in a Times interview back in March, that he expects bitcoin to become the single global currency within the next 10 years.

Dorsey, a bitcoin investor and blockchain enthusiast said in the meantime, he expects the cryptocurrency to be acceptable for simple transactions like paying for coffee before its eventual ascendance to a global currency.

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Apple Cofounder Steve Wozniak Says Single Global Currency Achievable with Bitcoin

In the interview, Dorsey acknowledged that bitcoin is “slow and it’s costly,” but suggested that “as more and more people have it, those things go away.”

According to Wozniak, the decentralized nature of bitcoin meant that it is “natural,” as opposed to traditional currencies which he has described as “kind of phoney,” due to the fact that there is no fixed supply.

“Bitcoin is mathematically defined, there is a certain quantity of bitcoin, there’s a way it’s distributed… and it’s pure and there’s no human running, there’s no company running and it’s just… growing and growing… and surviving, that to me says something that is natural and nature is more important than all our human conventions.”

Wozniak describes bitcoin as “pure” saying its immutability and decentralization is what sets it apart from other cryptocurrencies.

“Only bitcoin is pure digital gold… and I totally buy into that. All the others tend to give up some of the aspects of bitcoin. For example, being totally decentralized and having no central control. That’s the first one they have to give up to try to have a business model,” Wozniak said.

Wozniak was an early bitcoin investor, buying into the digital currency when it was selling for $700, several thousand less than where it is currently trading.

He recently sold all but one bitcoin, saying that he only wanted to experiment with the technology and not be an investor. He also owns two ether, the cryptocurrency associated with the Ethereum blockchain platform.

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