Does Dorsey’s Twitter exit mean that he will dedicate himself to Bitcoin from now on? The crypto community was wondering this after the Twitter founder decided to leave his role as CEO of the platform a few days ago as we reproted in our Bitcoin news.
Twitter co-founder Jack Dorsey announced he will resign as CEO of the social media company which only sparked rumors that he will focus on Bitcoin from now on. In the resignation letter posted on the social media platform, Dorsey explained the limitations of the founder-fed companies and said he thinks these setups are risky and are limiting companies in the sense that they are a single point of failure. He mentioned key personnel in Parag Agarwal and Bret Taylor saying he is confident that he can lead Twitter in the right direction for bigger success and growth which makes his resignation justified.
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He said:
“I want you to all know that this was my decision and I own it. It was a tough one for me, of course. I love this service and company…and all of you so very much. I’m really sad…yet really happy.
…I know we’ll prove this was the right move.”
Speaking at the Bitcoin Conference in Miami, Dorsey said he will be working on bitcoin if it was not for Square or Twitter. He also said that both companies have a huge role as far as crypto adoption is concerned:
“If I were not at Square or Twitter I’d be working on bitcoin.”
With Dorsey being the leader, both companies were known to be pro-crypto. For example, we saw back in September that Twitter introduced a “tips” feature that enabled users to tip content creators in crypto. Square’s Cash app was among the first payment apps that included Bitcoin over four years ago and then earlier this year, it noted that 5% of the total cash was in the leading cryptocurrency. But does Dorsey’s Twitter exit mean that he will only work on Bitcoin?
His resignation letter didn’t mention crypto at all while Binance’s Changpeng Zhao posted:
“Well done @jack. Welcome to full time crypto?”
Doge’s co-founder Billy Markus drew some parallels with Dorsey’s comment on the limitations of the founder-led companies, he said that DOGE only took off after he left:
“dogecoin only truly succeeded when i stopped developing on it you built something pretty big – it has changed quite a few lives, mine included – without twitter there wouldn’t be dogecoin much respect for your work and your decision.”
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