Jack Dorsey’s Unwavering Faith in Bitcoin
Bitcoin can be the native currency of the internet.
Jack Dorsey remains a strong supporter of bitcoin. The double-CEO of Twitter and Square is never afraid to speak his mind when it comes to the world’s largest cryptocurrency. Dorsey has previously predicted that bitcoin could become the internet’s native currency. He continues to double down on this prediction.
Bitcoin Can Be the Internet’s Native Currency
Dorsey isn’t alone in his thinking that bitcoin is a perfect fit to become the internet’s leading or native currency. The internet was built and continues to function on similar principles to those behind bitcoin.
“The internet is something that is consensus-driven and is built by everyone, and anyone can change the course of it. Bitcoin has the same patterns, it was built on the internet.” — Jack Dorsey
Anyone can build on the internet. Anyone can participate in the internet. All they need is access. Bitcoin works the same way. Anyone can participate in bitcoin. Plus, bitcoin was essentially built on the internet by Satoshi Nakamoto and built out by others championing the decentralized and inclusive themes that resonant across both the internet and bitcoin.
Dorsey Wants More Crypto Innovation
Dorsey sees the potential in bitcoin and the cryptocurrency space. He understands the possibilities that the space brings to finance, technology, integrated systems, and institutions. On top of that, Dorsey believes that the ethos behind crypto is something that should be fostered.
Square is taking a positive step for crypto innovation by forming the Cryptocurrency Open Patent Alliance (COPA), a non-profit that wants to stop companies from locking up useful technologies in patents.
Fostering innovation leads to greater adoption. Dorsey and Square get this. Others do too but it’s good for bitcoin and crypto to have such vocal and reputable supporters in their corner.
To Dorsey, Bitcoin Is Poetry
Satoshi Nakamoto aced his white paper. The pseudonymous creator of bitcoin nailed it in Dorsey’s mind. Dorsey has even gone on the record as calling the bitcoin white paper ‘poetry.’
“I think the Bitcoin white paper is one of the most seminal works of computer science in the last 20 or 30 years… It’s poetry,” — Jack Dorsey
Decentralization Makes Bitcoin Beautiful
Bitcoin and the efforts behind it are organic. Dorsey sees that in the ground-breaking cryptocurrency. He’s said that “the most beautiful thing about it, is there’s no one person setting the direction, and there’s no one person, on the other side, that can stop it.”
Square Is Making Bitcoin More Available
Square now makes it easy for individuals to buy bitcoin. Through the Cash App, users can automate their bitcoin purchases. The UX is smooth and the process is seamless. Square and Dorsey are making bitcoin more available to the masses. And it’s not just some cash grab to capitalize on the crypto craze.
Jack Dorsey and Square are furthering bitcoin adoption, making automatic bitcoin purchases available to users. Dorsey himself has even spoken about his own (frequent) bitcoin purchases.
Dorsey truly believes in bitcoin. At one point, he even said that he was actively maxing out his bitcoin purchases on a weekly basis through the Cash App. This fueled speculation that he was buying as much as $10,000 worth of bitcoin every single week. No matter the actual amount, Dorsey is clearly an active participant in bitcoin and an individual hodler out there stacking sats.
Dorsey’s Impact on Bitcoin’s Price
In the early days of crypto, a strong statement in favor of (and often against) bitcoin from a prominent personality could really move the price. Dorsey is the type of personality that the cryptocurrency community looks to. His belief in bitcoin may not make the price moon, but his support can’t hurt.
Some speculated in early 2020 that if Dorsey were to be ousted from Twitter that the price of bitcoin would spike… When there was a looming threat about an investor coup at Twitter, bitcoiners didn’t worry as there’s general consensus that Dorsey could do more for crypto if he wasn’t beholden to everything that comes with running one of the world’s most popular social media companies.
Bitcoin’s Potential Spans the Globe
Bitcoin continues to make an impact globally. Dorsey is one to witness this firsthand. He sees big potential for the world’s largest cryptocurrency in Africa, going as far as to say that Africa can define the future of bitcoin.
Peer-to-peer payments and just general activity are only becoming more mainstream. Access to bitcoin is going to increase in what used to be considered remote parts of the world.
Dorsey is already making waves by enabling bitcoin purchases through the Cash App, but he also remains steadfast in his effort to bring bitcoin to the rest of the world. Bitcoin is of course already global in so many ways. The greatest minds in bitcoin come from everywhere. Just as the internet is a collaborative space, bitcoin is bring collaborators and users together from all across the globe.
Jack Dorsey and Bitcoin: A Love Affair
It’s fair to say that we know how Dorsey feels about bitcoin. And if bitcoin could reciprocate, I’m sure it would. What will Dorsey do next in the world of crypto? Stay tuned to find out because odds are he’s up to something that’s going to pave the way for the future of cryptocurrency.