Apple co-founder Steve Wozniak still believes in Bitcoin, but he’s not putting his money where his mouth is.
Speaking to CNBC at the start of this week’s Money20/20 Europe event, Wozniak endorsed recent comments made by Twitter CEO Jack Dorsey, who said that he thinks Bitcoin will become the world’s dominant currency in the future. Wozniak lauded the technology for its decentralization, with no particular banking authority determining its value; the cryptocurrency is “pure digital gold”, he said.
But he hedged his comments, too. “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,” Wozniak explained. And Wozniak divested himself of most of his Bitcoin holdings after getting stressed over its erratic market performance; the cryptocurrency rose from a value of less than $2,000 last summer to nearly $20,000 in December, before falling to the valuation of roughly $7,500 it has at the time of writing.
Those fluctuations have been the cause of some controversy, of course, but they have also helped to spark more interest in cryptocurrencies and the blockchain accounting upon which they are based. Even if Bitcoin doesn’t become the lingua franca of global commerce, blockchain, in conjunction with identity technologies like biometric authentication, is still generating a lot of excitement with its potential to facilitate reliable and secure transactions while also maintaining the privacy of users in a way never before possible.