Jack Dorsey is full of praise for Bitcoin (BTC), explaining why Satoshi Nakamoto’s baby is so great, and could be the invention of the century.
What would Jack Dorsey be doing if he wasn’t at Square or Twitter? He would be working at Bitcoin. On June 4, 2021, Jack Dorsey said at the Bitcoin 2021 Conference, that he “doesn’t think there’s anything more important in my lifetime to work on.”
The billionaire expressed his optimism about the future of Bitcoin. He also displayed his commitment to it by stating that if Bitcoin “needed more help than Square or Twitter, I would leave them for Bitcoin.”
For Dorsey, “Bitcoin changes absolutely everything. Bitcoin allows for more inclusive financial infrastructures, he said. BTC would provide protection against inflation, and speed up cross-border transfers.
Dorsey said these are some of the reasons why he and Shawn “Jay-Z” Carter have set up a multi-million dollar fund to support Bitcoin’s development in Africa and India.
The Internet (finally) has its own currency
For Dorsey, Bitcoin will become the native currency of the internet. “The only reason Square got involved in Bitcoin is for this purpose. Square is a BTC maximalist. Dorsey explained that his company does not deal with other cryptos because, it wants “absolutely to make Bitcoin the native currency of the Internet.” Square had plunged into Bitcoin in October 2020, and had acquired over $170 million in BTC by February 2021.
Dorsey’s rhetoric contrasts with that of Bitcoin’s detractors, who continue to trot out the old clichés against the doyenne of cryptos: it’s a Ponzi scheme, Bitcoin is too volatile and risky for retail investors, BTC has no intrinsic value, etc.
Dorsey not only defended Bitcoin in his interview, he also took the opportunity to announce that Square is “considering” making a physical BTC wallet.
Should we believe Jack Dorsey’s glowing speech or Donald Trump’s attacks on a BTC that dares to compete with the dollar? Satoshi’s baby is only a dozen years old, but it already has some of the world’s most powerful people among its most fervent supporters, and its most ardent detractors.
