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Jack Dorsey, CEO of Twitter and Square, two of Silicon Valley's favorites, has recently become a fan of Bitcoin. He openly affirmed his allegiance to cryptocurrency in early 2018, when his company focused on the fintech, Square, launched the Bitcoin features on its "Cash App".
During interviews, Dorsey explained that this sudden change in business strategy suggested that he personally thought that BTC would become the "single currency" of the Internet. Dorsey recently dubbed this investment thesis, as the tech industry star switched to Joe Rogan's podcast, which has more than four million subscribers on Youtube, commenting his views on the topic.
Related reading: BTC beats Twitter, market capitalization of Jack Dorsey's Square reaches $ 30 billion
Twitter CEO talks about bitcoins in front of hundreds of thousands of people
In an interview published Friday, Rogan, who has already invited Andreas Antonopoulos among other pro-crypto guests, suddenly raised the crypto integration of Cash App, questioning Twitter's founder about it. When asked if Cash would add alternative cryptocurrencies, Dorsey quickly reacted with skepticism.
Dorsey simply noted that "the Internet will have a [single] in local currency, "adding later that, from his point of view, it will probably be Bitcoin. He explained that cryptocurrency is the most tested and that it presents the most solid principles and value propositions. In developing his thought process, Dorsey stated:
"It's something that was born on the Internet, which was developed on the Internet, which was tested on the Internet. This is the internet. The reason we allowed the purchase of Bitcoin in Cash App is that we wanted to know more about technology, put ourselves forward and take risks. "
He added that the Internet needed a currency because it would strengthen many operations around the world, including financial transactions and processes. Dorsey even mentioned the speculative nature of the cryptocurrency markets, noting that Cash actually limits day traders, while banning purely speculative transactions made through credit.
His fundamental point was that he wanted crypto-currencies to be adopted worldwide not as an badet, but as a tool for improving society.
The crypto community is satisfied with Dorsey's comment
While Dorsey's comments on crypto-currencies have probably made the decentrists smile, this latest version of Rogan's podcast has not been controversial. Anyway, much of the crypto community was satisfied with Dorsey's confidence in preaching Bitcoin's good word, so to speak.
Couple more reasons than I like @jack. Push the native Internet currency (crypto). And he does not yet accept credit cards, haha … https://t.co/t7Jn1wFiyO
– CZ Binance (@cz_binance) February 2, 2019
Changpeng "CZ" Zhao, from Binance, said the main reason he liked Jack was his crypto-currency boom, as well as the fact that he "does not yet accept credit cards" . NewsBTC President Joseph Young pointed out that while Square's monumental growth over 2018 was not primarily catalyzed by the integration of Bitcoin, she pointed out that the company privileged innovation, with Dorsey at the helm.
It's unclear what action the Silicon Valley giant will undertake to strengthen Bitcoin's ranking in the global financial system, but, as NewsBTC reported in the past, it made it clear that it was ready to promote the adoption of BTC with a fiery pbadion.
Featured image of Shutterstock
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