Bitcoin price: Apple co-founder hopes Bitcoin will be WORLD'S SINGLE CURRENCY in ten years
Bitcoin price: Apple co-founder hopes Bitcoin will be WORLD'S SINGLE CURRENCY in ten years
Speaking to CNBC, the technology guru said bitcoin could slowly go back up in value and compared the cryptocurrency to the internet bubble of the late 1990s.
Mr Wozniak said: “I buy into what Jack Dorsey says, not that I necessarily believe that it’s going to happen but because I want it to be that way.
“That is so pure thinking.
“Bitcoin, because it’s regulated in its quantity, you get down to supply and demand.
“And there’s more and more people who want it and demand it and there was a hype going on for a period and it went up to $20,000 then down, I don’t know where it is because I never track it.
Bitcoin news: Apple CEO hopes cryptocurrency will we world's single currency in ten years
“But if the demand increases and it becomes more and more popular for more things and people start using it, there is no extra supply. It’s limited.
“In terms of dollars bitcoin will go up and up overtime.
“And it won’t happen fast, it may be sloppy at first and things that change so much in life take a very long time to change, they tend to go slowly.
“We had a crash in the internet age and I see that going on with a lot of blockchain things including bitcoin itself right now.
“Blockchain in all forms is so popular and being studied by so many people and in demand by so many companies to look into changing their businesses in the future, it may be long term.
“I do see it as a bubble in the sense there is a huge amount of interest in it right now, but things aren’t going to change that rapidly, that’s what the internet bubble was all about.”
The tech pioneer argued people will have to change their mindset just like they did when internet was introduced, to truly see the future of the blockchain technology.
He said: “People have to have their mindset change, culture and tradition and status quo and the way things are doesn’t change that rapidly when it’s that huge.”
In May, Twitter’s CEO Jack Dorsey declared his hope Bitcoin will continue to establish itself as a primary method of payments.
He said: "I hope it will be bitcoin. I'm a huge fan."
Mr Dorsey added the internet “deserves a native currency” but admitted he was not certain if Bitcoin would prove to be successful in the long term.
He went on: "I'm just approaching with the principle that the Internet deserves a native currency.
“It will have a native currency. I don't know if it will be Bitcoin but I hope it will be.”
The CEO declared cyptocurrencies were used as a global currency it would allow Square to enter new markets around the world more easily.
He remarked: "If we were able to use it a currency today, we could release our apps in every app store around the world instead of the five we're in.”