Bitcoin is “Pure”, Should be Single Global Currency: Steve Wozniack

Silicon Valley bigwig believes Bitcoin should become the single currency worldwide, owing to its lack of centralization.

Apple cofounder Steve Wozniack has nothing but praise for Bitcoin and has expressed the hope that the cryptocurrency will become the single global currency in the future.

Wozniak’s comments come in the wake of a statement by Jack Dorsey earlier this year, in which the Twitter CEO claimed that Bitcoin will eventually become the single global currency in ten or less years. Speaking to CNBC on Monday, Wozniak stated that he hopes Dorsey’s prediction will come true.

“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, or ‘The Woz’ as he is nicknamed, went on to expound on the qualities that make Bitcoin unique and valuable – i.e. the fact that it is “pure”, since there is no single issuing authority.

“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.”

Despite the fact that many other influential figures (such as Warren Buffet) have levelled a fair amount of criticism at Bitcoin and its peers, Wozniack has maintained a positive and optimistic stance on cryptocurrencies. In October last year, at the Money 20/20 conference in Las Vegas, Wozniack claimed Bitcoin and blockchain technology were better than both gold and the US dollar. He stated that traditional fiat currencies were “phony” (since their supply could easily be manipulated by the government and other powerful players), while gold had no fixed supply.

Wozniak has been a vocal proponent of cryptocurrencies – he bought Bitcoin when it was priced at around $700 (the cryptocurrency is currently trading at around $7600), only to sell his entire stash (save one BTC) after he became disappointed with the hype surrounding the price movement of the digital asset, which he felt was too stressful to keep up with.

In addition to extolling Bitcoin’s virtues in comparison with the dollar and gold, and endorsing Dorsey’s sentiments, Wozniack also commented on what makes Bitcoin superior to the thousands of other cryptocurrencies that have now emerged.

“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.”