Steve Wozniak Says Most Cryptos Are Rip-Offs

Apple ($AAPL@US) co-founder, Steve Wozniak, has come with an unflattering description of other cryptocurrencies while calling Bitcoin pure gold in a recent interview with Business Insider. In a wide-ranging talk for the magazine, Wozniak said, “There are so many cryptocurrencies that come out now; everybody has a way to create a new one, and you have a celebrity star with it.” He also said that people buy crypto because they are waiting for a windfall that may not come. On the other hand, he said of Bitcoin, it is “the most amazing mathematical miracle,” noting that it is better than gold because you can verify that it has a certain level of digital scarcity. Wozniak even has his own cryptocurrency known as Efforce, which was launched in December of 2020. Meanwhile, current Apple CEO, Tim Cook, said he invests in crypto but the tech behemoth will not take that path. At press time, Bitcoin was down a fraction of a percent at just over $38,000 on a falling market cap and a significant rise in volume.