Bitcoin (BTC) Is The Most Powerful Candidate For Global Internet Currency, Says Twitter CEO
A lot of movements are taking place in the crypto space that are supposed to boost the mainstream adoption of Bitcoin and crypto.
More important figures are helping this movement, supporting more steps towards this massive goal.
Jack Dorsey wants to make Bitcoin, the Internet currency
Jack Dorsey says that Bitcoin (BTC) is the most powerful candidate that’s capable of becoming the global internet currency.
Twitter and Square CEO seems to be working to make Bitcoin a global, native Internet currency that is able to reach more and more people all over the globe.
The Daily Hodl reports that Dorsey highlights the Bitcoin’s brand, resilience and also lack of affiliation with any government, corporation or nation.
This is the main reason for which he believes that Bitcoin can definitely be the currency of the Internet.
In a new interview with Quartz, Dorsey stated the following:
“I haven’t seen any other currency that would challenge it across the dimensions that I think are really important. First, I think it has an amazing brand. The other thing that I think makes it probably the strongest candidate is that the principles behind it are very pure.”
As cited by the Daily Hodl, he continued and explained that “The fact that it’s meant to be deflationary, meant to incentivize savings instead of spending, I think is a net positive for the world and how we think about consuming. Because it is a scarce resource, it has a probability of always increasing in value, which makes you consider a lot more how you spend it.”
Driving merchant adoption
Dorsey’s mobile payment company Square launched its Square Crypto division in order to support merchant adoption of Bitcoin and cryptos.
Hey guys. Management again. Unfortunately, things didn't work out with Gary. However, we think we've found somebody who can live up to his commitment to decentralization. Please welcome Steve Lee, aka @moneyball, to the Square Crypto team.
— Square Crypto (@sqcrypto) June 12, 2019
This week, the first hire has been announced – Steve Lee, former Google director.
He’ll be a project manager and will work to enhance Bitcoin at Square.
Co-founder and CEO of Twitter and Square, Dorsey has been an advocate for Bitcoin since the early days. Having launched a crypto division of Square early this year (called Cash App - which helps newcomers buy Bitcoin), Dorsey is now making plans to lead the way to mass BTC adoption in Africa.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.