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Apple co-founder says many cryptocurrencies are ‘ripoffs’ but only one is ‘pure gold’ – Bitcoin (BTC/USD)

apple inc AAPL co-founder Steve Wozniak has described Bitcoin BTC/USD as the only cryptocurrency that is “pure gold math.”

What happened: Wozniak opened up about Bitcoin in an interview with Business Insider, adding that many cryptocurrencies are untrustworthy and have a track record of being “rip-offs.”

“There are so many cryptocurrencies coming out now; Everyone has an opportunity to create a new one, and you have a celebrity star with it,” Business Insider quoted Wozniak as saying.

The tech entrepreneur also suggested in the interview that people often buy cryptocurrencies simply because they are blinded by the potential windfalls.

See also: How to Buy Bitcoin (BTC)

Why it matters: Wozniak has also previously praised Bitcoin. In July 2021, he called it the “most amazing mathematical marvel” and said that the Apex cryptocurrency is better than gold due to its demonstrable digital scarcity.

In an interview with Yahoo Finance last November, Wozniak said he expects the elusive nature of cryptocurrencies to be a potential obstacle to large-scale adoption.

Wozniak had launched his own cryptocurrency called effort WOZX/USD in December 2020.

Apple CEO Tim cook announced in November last year that he personally owns cryptocurrencies, but the Cupertino-based company will not be investing in cryptocurrencies any time soon.

Continue reading: EXCLUSIVE: Sam Bankman-Fried Responds to Benzinga Over SEC Conspiracy Allegations ‘Special Treatment’

This article was originally published on March 7, 2022.

Photo: Gage Skidmore on Flickr

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