Steve Wozniak touts Bitcoin; Says it is better than gold

By: Jinia Shawdagor
Jinia Shawdagor
Jinia is a cryptocurrency and blockchain enthusiast based in Sweden. She loves everything positive, travelling, and extracting joy and… read more.
on Jul 9, 2021
  • Per Wozniak, Bitcoin is a mathematical miracle, and it will be a strong force in the future.
  • Before this, Wozniak said he hopes Bitcoin will become the single global currency.
  • BTC/USD continued trading sideways with little movement despite this bullish news.

Steve Wozniak, the co-founder of American multinational technology company Apple, has become the latest renowned person to tout Bitcoin (BTC/USD). A report unveiled this news on June 9, noting that Wozniak believes BTC is better than gold. He shared this bullish note during the Talent Land Jalisco 2021 event, which converges young people, specialists, governments, and entrepreneurs for tech and entrepreneurship development and innovation.

According to the report, Wozniak believes gold is limited, and you have to look for it. On the other hand, BTC is the most amazing mathematical miracle, according to him. While Wozniak said he does not invest in the leading cryptocurrency by market capitalization, he is certain that it will disrupt the future.

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Although Wozniak does not invest in BTC, it is worth noting that he is not a newcomer in the burgeoning nascent asset class. In 2018, he said he hopes the cryptocurrency will become the only currency in the world. On top of this, he owns a cryptocurrency dubbed EFFORCE, which trades under the ticker symbol WOZX/USD. Per data from CoinMarketCap, the coin occupies the 313th position in the list of leading cryptocurrencies.

BTC/USD remains stagnant despite bullish announcements

While Wozniak’s statement could have made BTC/USD jump a few months back, it did not have a massive impact on the flagship cryptocurrency. At the time of writing 5:08 PM UTC, BTC/USD is trading at $33,490.72 (£24,157.36) after gaining 1.83% over the last 24 hours.

Apart from Wozniak, there have been several major announcements that could have potentially made BTC/USD revisit its ATH above $64,000.00 (£45,160.00) but didn’t. For instance, El Salvador passed a bill to make the cryptocurrency legal tender alongside the US Dollar in the past month. While BTC/USD surged past $40,000.00 (£28,821.80) in the following days, it failed to sustain the bullish momentum and slid back to the current $30,000 (£21,616.05) level.

MicroStrategy also doubled down on BTC/USD by purchasing 13,005 coins worth approximately $489 million (£352.34 million). Reportedly, the company’s dedication to the cryptocurrency saw it orchestrate the sale of $500 million (£360.27 million) worth of senior banknotes to obtain the funds it used in this purchase. Nonetheless, this bullish news did not reflect on the cryptocurrency’s price.

On top of this, Cathie Wood’s ARK Invest purchased 1 million shares of the Grayscale Bitcoin Trust (GBTC) after BTC/USD plunged to $28.893.62 (£20,818.58). While this purchase saw the coin surge, its impact did not last long.

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