Bitcoin is a “miracle of technology”, says Apple co-founder

09 Jul 2021

The co-founder of Apple, Steve Wozniak has again echoed his positive uptake on Bitcoin, the world’s largest cryptocurrency by market cap.

A vocal supporter of Bitcoin, referring to it as the “only digital gold”, Wozniak also called the digital currency a “miracle of technology” and a “unique mathematical formula” at Talent Land Digital 2021, a major virtual event in Latin America dedicated to technology and innovation.

The Apple co-founder also said Bitcoin is better than gold, stating it’s more straightforward to mine Bitcoin blocks than locating and extracting gold.

He said: “Gold is limited and you have to look for it. Bitcoin is the most amazing mathematical miracle. I do not invest in Bitcoin, but I believe it’s here to stay.”

Many key industry figures have described Bitcoin as “digital gold” as they both have a limited supply, therefore retaining value on the market, Cointelegraph reports.

deVere CEO Nigel Green was quoted as saying earlier this year: “Bitcoin is living up to its reputation as ‘digital gold.’ Like the safe-haven precious metal, it’s widely accepted as being a store of value, a medium of exchange, and is valued for its scarcity.”

Whilst gold is limited by its physical supply, Bitcoin mining is capped at 21 million coins. As such, when the last coin is mined in 2140, there will be no single new Bitcoins.

In addition, Mexico’s third-richest man, Ricardo Salinas Pliego said it is “absolutely right” to refer to Bitcoin as the new gold. “That’s totally right, Bitcoin is the new gold, but much more portable, transporting Bitcoin is so much easier than having gold bars in your pockets,” he stated.