Former Twitter CEO Jack Dorsey Says Bitcoin Will Replace The US Dollar
In a recent Twitter interaction with Grammy award-winning rapper Cardi B, former Twitter CEO Jack Dorsey yesterday said that Bitcoin will replace the US dollar.
In a recent Twitter interaction with Grammy award-winning rapper Cardi B, former Twitter CEO Jack Dorsey yesterday said that Bitcoin will replace the US dollar.
Answering Cardi B's question on Twitter whether crypto would replace the US currency, Dorsey replied, ¡°Yes, Bitcoin will.¡±
Do you think crypto is going to replace the dollar?
¡ª Cardi B (@iamcardib) December 21, 2021
Yes, Bitcoin will
¡ª jack?? (@jack) December 21, 2021
Reactions pour in
This exchange between the former Twitter CEO and Cardi B prompted massive reactions on the social media platform, with Dogecoin co-founder Billy Markus posting a meme about how Dogecoin is more stable than the US dollar.
Bitcoin investor Dennis Porter pointed out that ¡°such a conversation was actually inevitable.¡±
Last month, Dorsey left Twitter to focus on fintech firm Block, formerly known as Square, which led to Parag Agrawal becoming the new CEO of Twitter.
Also Read: Elon Musk Says Dogecoin Is Better For Transactions Than Bitcoin
Dorsey is a Bitcoin investor himself
Dorsey¡¯s love for cryptocurrency dates back to 2017 when he started advocating Bitcoin as the king coin. Even when the crypto market crashed in 2018, Dorsey was unfazed and had called Bitcoin the future world currency, despite the digital currency being at its lowest point in several years at that point.
Even in March 2019, Dorsey had said that he spends several thousand dollars each week to buy Bitcoin.
Earlier in October, Dorsey had said that Block is looking to build a bitcoin mining system based on custom silicon and open source for individuals as well as businesses. This would add to Square¡¯s existing bitcoin-focused projects including a business to build an open developer platform, as well as a hardware wallet for the cryptocurrency.
In recent times, Dorsey has endorsed blockchain technology for transparency in payment, by releasing the whitepaper of its decentralized Bitcoin exchange proposal¡ª tbDEX. Dorsey has also confirmed to investors that Bitcoin will be a ¡°big part¡± of the company¡¯s future.
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