Apple co-founder Steve Wozniak remains bullish about the future of Bitcoin, echoing the comments of Twitter CEO Jack Dorsey about the future of Bitcoin as an international currency. Wozniak, who states that he only owns one bitcoin, believes that Bitcoin is “pure digital gold” and that no other cryptocurrency can compare to it. All other cryptocurrencies attempt that attempt to deviate from Bitcoin’s model end up disadvantaging themselves.
One of the particular aspects of Bitcoin that appealed to Wozniak was its decentralized approach. It’s such a radical concept in the world today that many cryptocurrency projects jettison decentralization for a more centralized approach, and that’s where many go astray.
Wozniak’s comments mirror those of Jack Dorsey, who believes that the internet needs its own native currency and that Bitcoin will be that currency. Dorsey is also the CEO of mobile payments company Square, which has allowed merchants to accept Bitcoin as a payment method since 2014. According to Dorsey: “The world ultimately will have a single currency, the Internet will have a single currency. I personally believe that it will be Bitcoin.”
The endorsement of such powerful technology entrepreneurs is a boon for Bitcoin, as tech firms will lead the continued adoption of Bitcoin as both a medium of exchange and as a store of value. It also helps that prominent and successful tech luminaries such as Wozniak have given Bitcoin their imprimatur since that will help to influence the views of cryptocurrency skeptics. Many people who otherwise might wait on the sidelines to see what happens will undoubtedly be swayed by the opinions of such prominent individuals.
That also bodes well for the continued adoption of Bitcoin by businesses too, as prominent firms such as Square adopting Bitcoin will continue to help with Bitcoin’s acceptance and demonstrate its usefulness and viability as a means of payment. And that bodes well for Bitcoin IRA investors, as further adoption of Bitcoin and the growth of its network effects will spur greater demand for Bitcoin and a continuing rise in value.