This is a pretty bold statement!
Jack Dorsey seems to be all in on Bitcoin in every sense of the word. He reportedly thinks it is the most important thing to work on in his lifetime.
This is just one more sign that crypto is here to stay, and the future of finance is probably crypto.
Dorsey isn’t saying that he is definitely quitting Twitter and Square to go work on Bitcoin, but he would do it if “Bitcoin needed him more.”
I think he is trying to signal just how important Bitcoin is in the grand scheme of things.
Dorsey’s statement comes at a time when confidence in the dollar continues to fall, as investors, institutions, and the general public eye crypto and decentralized finance in general.
Check it out:
1/Bitcoin is for everyone. It’s important to us to build an inclusive product that brings a non-custodial solution to the global market. Much respect to everyone who has gotten us this far. What are the biggest blockers to get a non-custodial solution to the next 100M people?
— jack (@jack) June 4, 2021
Square is considering making a hardware wallet for #bitcoin. If we do it, we would build it entirely in the open, from software to hardware design, and in collaboration with the community. We want to kick off this thinking the right way: by sharing some of our guiding principles.
— jack (@jack) June 4, 2021
Crypto Potato relayed Dorsey’s statements:
Speaking at the 2021 Bitcoin Conference, the CEO of Square and Twitter asserted that BTC “changes everything” for him as the freedom it represents draws him in the most.
Moreover, he noted that “I don’t think there’s anything more important in my lifetime to work on, and I don’t think there’s anything more enabling for people around the world.”
As previously reported, one of the companies Dorsey runs – Square – purchased $50 million dollars worth of BTC last year. He noted that as a payment service firm, Square aims to work only with bitcoin to enhance the asset’s accessibility and capabilities.
“If I were not at Square on Twitter, I would be working on Bitcoin. If it needed more help than Square or Twitter, I would leave them for Bitcoin. But, I believe that both companies have a role to play.” – he added.
I think he'll be working 100% on Bitcoin within the decade. Won't surprise me at all.
— Wartime System 🔴🔑📈⚡️ (@aPerfect_System) June 4, 2021
New Moron Money is up on YouTube!
Watch, Subscribe, Like, Share! It all helps the channel 👇👇👇https://t.co/R9EJia00w7
— The Blind Mike Project (@BlindMikeProj) June 5, 2021
Dorsey believes that bitcoin will become the native currency for the internet, he said, and “the only reason Square got involved with bitcoin is to that end.”
Indeed, his financial services company Square added over $170 million worth of bitcoin to its balance sheet in February after first investing in the cryptocurrency in October. On Friday, Dorsey also announced that Square is “considering” making a hardware wallet for bitcoin.
“That’s why we don’t deal with any other ‘currencies’ or ‘coins’ because we’re so focused on making bitcoin the native currency for the internet,” Dorsey said.
Dorsey has consistently been an advocate for bitcoin on social media – in March, for example, Dorsey sold his first tweet as an NFT, converted its proceeds to bitcoin and donated it to a Covid-19 relief fund in Africa by GiveDirectly, a charity giving cash to people living in poverty.
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