Why Twitter CEO, Jack Dorsey believes Bitcoin will soon become the World's Single currency
In the News today!
Jack Dorsey who is the Chief Executive Officer of both Twitter and Square believes that in the next 10 years bitcoin will be the world's single currency even surpassing the dollars.
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He also believes that bitcoin will soon serve as the internet's single currency. Jack Dorsey also acknowledged the fact that bitcoin is not yet an efficient currency since it is still slow and costly but his reasons for his optimism about the cryptocurrency is because of the technologies evolving round bitcoin.
Keycom Analysis
Now, why will Jack Dorsey believe so much in Bitcoin? I think its obvious that Jack Dorsey has always been an adherent believer in bitcoin. We can recall that on the February 28 of this year, the CEO said that his company, Square which is a mobile payment service operator will do more than just Buying and Selling of Bitcoin. He said then that the companys Cash App which allows the buying and selling of bitcoin will take a step further than this basic service. Dorsey described bitcoin as a 'Transformational Technology'.
Also, Jack Dorsey recently provided a $2.5 Million seed capital to a Lightning Network Developer known as Lightning Labs in order to increase the speed of transaction in the bitcoin network.
These and many other reasons may just be the reasons why Jack Dorsey is an adherent believer in Bitcoin and the technology behind it.
Do you think bitcoin can truly become the world's single currency in about a decade? Let me know your thoughts in the comment section below.
@keycom - very intriguing post. It is interesting to see the Twitter CEO make such comments, he's certainly not the only major investor to express optimism for cryptos. I believe we'll see many others in the future also express their support.
As far as Bitcoin becoming the major world currency- the jury is out on that. I could imagine a basket of currencies being put together to for a hybrid currency, or Special Drawing Rights (SPRs) to be created in the future. Anyways, great post keep up the nice work! Followed & Upvoted.
@wealth4good, thanks for taking time to read the post and am glad you like it. I think i share similar thought with you that there may eventually be a hybrid of currencies which may be the cryptocurrency of choice in few years to come and not necessarily bitcoin. Watch out for my daily posts on this platform as i share my thoughts on the trending news in the crypto world. I just upvoted and followed you. Cheers!
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