Dorsey has got Bitcoin investors everywhere feeling optimistic.
Recently he has stated that Bitcoin will play a central role in the future of his social network Twitter.
This news comes at a time when many are touting Ethereum as the go to network for decentralized finance, NFT’s, and payment solutions.
Some even think ETH will overtake BTC in terms of price sometime in the future.
Will this “flippening” ever actually happen, Or will more use cases for Bitcoin emerge, use cases like the ones Dorsey is alluding to with his recent comments?
Either way, it looks like Bitcoin is here to stay.
Check out what Dorsey had to say:
“I think it's hugely important to Twitter and Twitter's shareholders that we continue to look at this space and invest aggressively in it, and we're not alone here,” Dorsey said.https://t.co/MMdH00w0cM
— Bitcoin Magazine (@BitcoinMagazine) July 23, 2021
*TWITTER CEO JACK DORSEY SAYS TWITTER IS ON TRACK TO BE ONE OF THE LARGEST PUBLIC HOLDERS OF BITCOIN BY 2022. "WE SEE BITCOIN AS A VIABLE ALTERNATIVE TO OVERTAKE THE TRADITIONAL FIAT MONETARY SYSTEM."
— Chart Simpson (@ChartSimpson) July 21, 2021
Coin Telegraph had more on what Dorsey had to say:
Dorsey emphasized that Twitter is not alone in its commitment to crypto, citing aggressive digital currency development by social media giant Facebook, which expects to pilot its Diem cryptocurrency later this year. But unlike Facebook, Twitter will one day focus on BTC as a native internet open standard. Dorsey stated:
“There’s an obvious need for this and appreciation for it. And I think that an open standard that’s native to the internet is the right way to go, which is why my focus and our focus eventually will be on Bitcoin.”
Related: No, Jack Dorsey isn’t trolling ETH by making its logo the Ethiopian flag
Dorsey’s latest Bitcoin call is reportedly the first time when the CEO has spoken publicly about how Twitter could integrate BTC into its products.
— Anton Chashchin (@antont71) July 23, 2021
Bitcoin will be a "huge part" of Twitter's future, according to CEO Jack Dorsey, who sees possibilities to incorporate the cryptocurrency into existing Twitter goods and services, such as commerce, subscriptions, and new features like the Twitter Tip Jar and Super Follows. pic.twitter.com/FmoXi7BsTZ
— Plat4om (@Plat4omLive) July 23, 2021
The Block adds:
Dorsey has been a staunch supporter of bitcoin. His other company, payments firm Square, already bets big on crypto. Square’s Cash App, which allows users to buy and sell bitcoin, generated $3.51 billion in bitcoin revenue during the first quarter of this year and $75 million in bitcoin gross profit during the same period.
Square also holds bitcoin on its balance sheet and recently committed to building a bitcoin hardware wallet. Plus Square has its own crypto team, Square Crypto, which works on bitcoin development kits and other open-source code.
Bitcoin reminds Dorsey of the “early internet,” he said at the recent “B-Word” conference — alongside Tesla CEO Elon Musk. “It’s deeply principled, it’s weird as hell [and] it’s always evolving. It just reminded me of the internet as a kid,” Dorsey said.
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