Even though Steve Wozniak praises Bitcoin for its “pure-gold mathematics,” his view of the entire cryptocurrency sector is far more negative. He remarked on the sheer amount of cryptocurrencies that are introduced on a daily basis in the aforementioned interview, suggesting that many cryptocurrency projects are “rip-offs.”
Apple co-founder Steve Wozniak calls Bitcoin “Pure Gold”
Celebrity endorsements are used by token creators to attract buyers according to Wozniak:
“There are so many cryptocurrencies that come out now; everybody has a way to create a new one, and you have a celebrity star with it. It seems like they’re just collecting a bunch of money from people who want to invest at the very earliest stage when it’s worth pennies.”
He also advised investors to have an optimistic attitude toward startup entrepreneurs, as it may be difficult to find another Apple:
“They might be another Apple, and you can’t see it yet. There’s no way to calculate it in a spreadsheet.”
In October, however, Steve Wozniak predicted that governments would ultimately ban Bitcoin:
“Trouble is that the government will never allow it to be out of their control. If it got to the point that everything was being done with crypto and it didn’t pass through governments for observation and taxation and all that…governments would just disallow it.”
