Steve Wozniak has heaped praise on bitcoin at a festival in Mexico. He strongly advises young Mexicans to get into the crypto world.
Along with Steve Jobs and Ron Wayne, Steve Wozniak founded Apple in 1976. It’s no secret that Apple’s technical achievements over the last few decades have included digitalization. Wozniak has therefore also played his part in modern technology. Now the 70-year-old spoke at a festival in Guadalajara about Bitcoin.
Wozniak calls Bitcoin a miracle and the future
Apple co-founder Wozniak founded a blockchain company himself in December 2020. “Efforce” serves as a marketplace for sustainable energy projects here. Meanwhile, the associated Efforce token (WOZX), which can be used to invest in participating projects on the platform, is trading at around USD 0.68 and is the 322nd most valuable cryptocurrency.
Wozniak has not invested in bitcoin itself, despite his belief in cryptocurrencies. Nevertheless, he said this is the future. He referred to bitcoin as the “most amazing mathematical miracle in this.” Therefore, he said, it is especially important for young people in Mexico to see the crypto market as an innovation and understand the importance of it.
Moreover, he says, bitcoin is clearly better than gold. This question about the better store of value has been debated for years. The precious metal, unlike bitcoin, is not really limited, he said. “We keep finding gold. One day we’ll make it in factories,” Wozniak said.
Bitcoin, on the other hand, is limited to 21 million coins. Currently, there are already 18.7 million BTC in circulation. It is not until 2140 that all Bitcoins are said to have been mined. Thus, bitcoin inevitably has a non-inflationary nature. Wozniak thus denies this to gold.
Mexican authorities last to wait before digital tangibles
The Ministry of Finance and Public Credit (SHCP) and the National Banking and Securities Commission (CNBV) in Mexico last warned of the risks posed by digital tangible assets in late June. These are not yet regulated in the country and are therefore banned, they said.
Nevertheless, new laws on cryptocurrencies could also be passed in Mexico in the coming months as a result of the wave triggered in Latin America (for example, El Salvador and Paraguay). Currently, regulations regarding cryptos – not always i
m negative sense – high in Latin America.
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