Apple co-founder Steve Wozniak is hopeful that Bitcoin will become the single currency of the Internet. In this regard, Wozniak joins Jack Dorsey, the CEO of Twitter and Square, in his enthusiasm for Bitcoin becoming the single worldwide currency.
Bitcoin: The Native Currency of the Internet
A growing number of influential voices are claiming that Bitcoin should become the currency of the Internet.
Most recently, during a CNBC interview, Wozniak conveyed his sentiment that Bitcoin should become the currency of the Internet, affirming Bitcoin’s purity and power. During the interview, Wozniak said:
Bitcoin is mathematically defined, there is a certain quantity of bitcoin, there’s a way it’s distributed… and it’s pure and there’s no human running, there’s no company running and it’s just… growing and growing… and surviving, that to me says something that is natural and nature is more important than all our human conventions.
Wozniak also indicated that he agrees with Jack Dorsey regarding the fact that Bitcoin should become the single global currency. Specifically, Wozniak said:
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, that is so pure thinking.
Wozniak was referring to Dorsey’s prediction, “The Internet is going to have a native currency.” Dorsey issued this prediction at the Consensus Blockchain Conference in New York in May. As reported by CNET, Dorsey also stated:
The internet is going to have a native currency, so let’s not wait for it to happen, let’s help it happen. I don’t know if it will be bitcoin, but I hope it will be.
Bitcoin Makes Square Profitable
Dorsey seemed to acquiesce to client demand when Square started to provide Bitcoin trading capabilities to its Cash App. When announcing these new features, the company stated:
Customers can now buy and sell Bitcoin in Cash App. We observed that this was a feature our customers wanted, and we support Bitcoin because we see it as a step in the long-term path toward greater financial access for all.
Dorsey was right. Since Square, Inc. added Bitcoin trading features to its payment app, the value of its stocks has increased significantly. As a result, last April, Dan Dolev, an analyst at Nomura Instinet, believing that this ascending trajectory would most likely continue, raised its Square target price to USD 65, from USD 50. As of this writing, a share of SQ is already over USD 61.
Dorsey and Wozniak remain faithful to their vision that the Internet will eventually have only one currency, preferably Bitcoin. Some time ago, Wozniak declared that Bitcoin was better than gold, and Dorsey said:
Bitcoin will overtake the dollar in importance as it becomes the single global currency of the internet within a decade.