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Apple Co-Founder Steve Wozniak Backs Bitcoin Over Dollar

Apple Co-Founder Steve Wozniak Backs Bitcoin Over US Dollar, calling BTC "Mathematical Purity"

Steve Wozniak is famously a big crypto-head, something he’s confirmed in a recent interview. While speaking to Yahoo Finance on Friday, the Apple co-founder showed his support for Bitcoin calling it “mathematically pure”.

Wozniak spoke about what he believes to be Bitcoin’s biggest advantage, which is that it cannot be copied, unlike the “artificial” US dollar.

“Artificial” Dollar vs “Mathematically Pure” Bitcoin

Wozniak’s argument is that the government can create fiat money whenever they feel like it. They can print new dollars when in need, which just isn’t possible with Bitcoin. In the case of cryptos, it’s all about maths.

What he enjoys about Bitcoin the most is that the peer-to-peer network is based on science, not speculation. In the interview, he highlighted how Bitcoin isn’t controlled by a single entity, whether it’s an individual, corporation, or government.

“Bitcoin doesn’t even have a creator that we know of, it isn’t run by some company, it’s just mathematically pure, and I believe nature over humans always,”

Wozniak said about Bitcoin.

For this reason, Wozniak believes that it’s impossible for someone to artificially influence Bitcoin. In turn, this makes him think that Bitcoin has a higher level of predictability than any fiat currency in the world, US dollar included.

Wozniak Says Bitcoin Anonymity Might Not be a Good Thing

While praising Bitcoin for its stability, Wozniak also spoke about what he believes to be one of the main downsides of cryptocurrency.

His issue is that Bitcoin and other cryptos have “a little bit of anonymity,” which he thinks might not necessarily be a good thing. Wozniak is of the opinion that a person should be able to stand behind their financial decisions.

“You should be able to stand up and say I did this transaction,”

If transactions are completely anonymous, cryptocurrencies can be used for illicit purposes. In fact, there’s truth to this claim – research from 2019 showed that about 46% of all Bitcoin transactions are used for illegal activity.  

This particular part of the interview did not go well with the crypto enthusiasts, who have raised their concerns on social media. According to them, privacy is one of the top advantages of Bitcoin. It’s a way for people from all parts of the world to achieve financial freedom.

Lee Jenkins

Lee is our resident cryptocurrency expert who knows the ins and outs of each coin and the blockchain technology behind them. You’ll find that most of our technical guides are written or overseen by Lee and they are all easily digestible by the new and experienced alike, so there is no better place to learn blockchain 101 than here. Occasionally you may see a news article from him if it’s tech related!