• 278 days Will The ECB Continue To Hike Rates?
  • 278 days Forbes: Aramco Remains Largest Company In The Middle East
  • 280 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 680 days Could Crypto Overtake Traditional Investment?
  • 685 days Americans Still Quitting Jobs At Record Pace
  • 687 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 690 days Is The Dollar Too Strong?
  • 690 days Big Tech Disappoints Investors on Earnings Calls
  • 691 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 692 days China Is Quietly Trying To Distance Itself From Russia
  • 693 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 697 days Crypto Investors Won Big In 2021
  • 697 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 698 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 700 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 701 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 704 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 705 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 705 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 707 days Are NFTs About To Take Over Gaming?
China Has Set Out To Crush Crypto...Again

China Has Set Out To Crush Crypto...Again

The People’s Bank of China,…

NFT Craze Could Get Bigger with Youtube

NFT Craze Could Get Bigger with Youtube

YouTube CEO Susan Wojcicki has…

  1. Home
  2. Cryptocurrencies
  3. Other

Twitter CEO: The World Will Have A Single Currency

BTC

Volatility may rule the day as regulatory uncertainty divides analysts on what will come next for cryptocurrency, but according to Twitter CEO Jack Dorsey, 10 years from now—or less—bitcoin is likely to emerge as the world’s only currency.

Everyone knows Dorsey, also the CEO of Square, is a raging bitcoin bull, but he’s taken things one step further in a Wednesday interview with The Times in his biggest endorsement yet. 

“The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin,” Dorsey told The Times.

And while Dorsey says that bitcoin “does not have the capabilities right now to become an effective currency”, he defines “ultimately” as “probably over ten years, but it could go faster”.

Bitcoin may be struggling with scaling and approachability issues that are slowing it down, 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”.

It’s not the first time Dorsey has endorsed bitcoin generously.

In an earlier interview with The Verge, he called the original cryptocurrency—and its underlying blockchain technology, the “next big unlock” for global finance. Related: Trump Hits China With $50 Billion In Tariffs

But before rushing out to buy bitcoin on the eve of its world domination tour, investors will be noting that Dorsey’s comments come amid a promotional tour of his own, for Square, Inc. (NYSE:SQ), which recently dropped hints that it may try to rival the biggest crypto exchanges on the market, like Coinbase and Kraken.

With talk on Wall Street already comparing Square to “Amazon in the early days,” Dorsey has every reason to endorse bitcoin with a renewed vigor.

Square is working to do just what Dorsey says bitcoin needs: make transactions cheaper and faster.

Last November, Square held trials allowing users to buy and sell bitcoin using the company’s Cash App, which already has 7 million users. Now, Square is offering the bitcoin service in Wyoming and eyeing licenses in other states, with New York on the top of its list.

Square is taking the mobile payments segment by storm—so far--so many will be forgiven for buying into the bitcoin endorsement.

By Michael Kern for Safehaven.com

More Top Reads From Safehaven.com:

Back to homepage

Leave a comment

Leave a comment