Twitter CEO Jack Dorsey, explains why Bitcoin is “the best currency on the Internet”
Bitcoin (BTC) and decentralized finance (DeFi) tokens are in fashion lately, with crypto investors anticipating the next BTC high and the exponential growth of the DeFi industry.
Bitcoin and technology stocks fell
At the time this article was written, Bitcoin seemed to be consolidating at the $10,000 level. Lately, BTC has fallen behind, along with technology stocks. The largest cryptomoeda by market capitalization has been trading sideways for weeks and is currently valued at $10,900. Market experts have been working hard to study BTC’s movements to predict its next bullishness.
With the plans of the Federal Reserve to print fiduciaries en masse to provide relief COVID-19, it seems that the price of Bitcoin will probably suffer another increase in the sky, since investors all over the world have been looking at it as a protection against inflation.
Jack Dorsey of Twitter: “Bitcoin is the best currency”
The CEO of Twitter and Square, Jack Dorsey, addressed the Bitcoin issue in a conversation with Reuters. He said that Bitcoin was “built on the internet” and was probably the best digital currency created. Dorsey said :
“The Internet is something consensus-oriented and built by all, and anyone can change the course of that. Bitcoin has the same standards, it was built on the Internet. Anyone with a great idea can add to it. ”
Blockchain and technology alliance founded by Dorsey
The Twitter CEO has long been a great advocate of Bitcoin and blockchain, and recently launched an “Open Patent Alliance Cryptomoeda” (COPA) through his payment company Square . The initiative was launched with the objective of empowering blockchain and crypto-directed companies in the technology sector, and protecting them from patent-pending trolls.
Through COPA, all shared blockchain patents in the library are protected and can be accessed by alliance members to further innovate their blockchain projects.
Dorsey thinks Bitcoin is the future
As shared by Forbes, Dorsey has on several occasions supported Bitcoin, claiming that the digital asset will become the world’s only currency by 2030. He also said:
“We have to build bitcoin in a way that is intuitive, as fast and efficient as what exists today, and goes beyond that too”.
Yesterday, both Bitcoin and gold experienced interesting price hikes, which coincided with Federal Open Market Committee (FOMC) officials announcing that they will continue to keep U.S. interest rates close to zero, as the Federal Reserve’s goal from now on is to push inflation above 2% by 2023.
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