- Tram Ho
Billionaire Jack Dorsey, the co-founder of Twitter and Square, is extremely optimistic about the future of Bitcoin – the world’s largest virtual currency by capitalization.
At the Bitcoin Conference 2021 in Miami, USA on June 4, Jack Dorsey emphasized that Bitcoin can completely change everything.
“ There is nothing more important than Bitcoin in my life right now, ” the 44-year-old billionaire shared at the conference. “ If I wasn’t working at Square or Twitter, I would be working on Bitcoin. If Bitcoin needed more support than Square or Twitter, I would leave these two companies to work on Bitcoin. Even so, I believe both companies have their roles to play .”
He argues that Bitcoin has the potential to create a new financial infrastructure that is more inclusive and supports underserved communities.
“ For people living in different countries around the world, Bitcoin is a tool to protect them from currency devaluation and a tool to move money across borders, ” Dorsey explained.
Dorsey says that’s part of the reason he and music mogul Shawn “Jay-Z” Carter built a multi-million dollar fund to grow Bitcoin in Africa and India.
Although many critics consider Bitcoin to be speculative, highly volatile, and prone to fraud, the Bitcoin community views it as a form of electromagnetic gold and an anti-inflation tool.
Dorsey believes that Bitcoin will become the currency of the internet and “ the only reason Square is involved with Bitcoin is for that purpose .”
In fact, back in February, Square, a financial services company, added $170 million worth of Bitcoin to its balance sheet, after making its first investment in the cryptocurrency in October. 2020. On June 4, Dorsey also announced that Square is “considering” creating a hardware wallet for Bitcoin.
“ That’s why we don’t deal with any other ‘currency’ or ‘virtual currency’. We are focused on making Bitcoin the currency of the internet, ” Dorsey said.
So far, Dorsey has consistently expressed pro-Bitcoin views on social media. For example, in March of this year, he sold his first tweet as an NFT – Non-fungible token, a unique string of code that represents an item and cannot be replaced. The Twitter founder then converted the proceeds from the sale into Bitcoin and donated to the Covid-19 Africa by GiveDirectly relief fund, a charity that gives cash to the poor in Africa.
“ For the rest of my life, me and my companies will do whatever it takes to make Bitcoin more accessible to everyone ,” Dorsey said.
According to data from CoinMarketCap, Bitcoin is currently trading at around $37,000 with a market capitalization of $694 billion, down sharply from the record price of $64,339 per Bitcoin set on April 14.
Source : Genk