Twitter CEO Says Bitcoin Will Be the World's Dominant Currency in Ten Years
March 22 2018 - 11:19AM
ADVFN Crypto NewsWire
Bitcoin Global News (BGN)
March 22, 2018 -- ADVFN Crypto NewsWire -- Jack Dorsey, CEO of both
Twitter and payment services company Square, sees Bitcoin (BTC)
soon becoming the world’s dominant currency, not just online, but
everywhere.
Dorsey announced in February 2018 that Square's payment
application, "Cash App," would soon give users more ways to use
Bitcoin, even allowing users to instantly buy and sell bitcoin. At
a stop on a promotional tour for Square on Monday, Dorsey told The
Times of London that Bitcoin’s emergence as the world’s clear
currency leader will happen “...probably over ten years, but it
could go faster. The world ultimately will have a single currency,
the Internet will have a single currency. I personally believe that
it will be Bitcoin.”
Dorsey said that scaling issues currently slowing BTC's adoption
as an everyday currency will be solved: “It’s slow and it’s costly,
but as more and more people have it, those things go away. There
are newer technologies that build off of blockchain and make it
more approachable.”
Bitcoin transactions may soon process in much less time. Last
week, Lightning Labs released a new Lightning Network protocol
layer built above the Bitcoin blockchain that may make fast and
free bitcoin transactions a reality. Dorsey and Litecoin creator
Charlie Lee participated in Lightning Labs' $2.5 million seed
financing round.
Bitcoin bulls were excited to receive further confirmation that
Dorsey sees big things ahead for Bitcoin, especially after Twitter
just announced a ban on all cryptocurrency-related advertising.
But, keep in mind, Dorsey himself is a noted investor in both the
bitcoin cryptocurrency and Bitcoin platform technologies. He is far
from an unbiased observer of Bitcoin's adoption curve, certainly
prone to some degree of irrational exuberance, and not above taking
a public stance driven partially by self-interest regarding all
things Bitcoin.
By: BGN Editorial Staff
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