The CEO of Twitter, Jack Dorsey, is in the latest cryptocurrency news for voicing his opinion on Bitcoin and the technology backing the most dominant coin. The founder of the social media giant and its CEO said that he has not even considered creating a Libra-like native cryptocurrency for his own social media platform.
Instead, his comment in the altcoin news stuck to the belief that Bitcoin is much more suited for use as a “currency for the Internet” rather than anything else available or in the works to date.
Jack Dorsey also said that Bitcoin’s resilience, brand and dependability have made it stand out from the rest of the crypto asset industry. Dorsey also commented that open systems such as Bitcoin were able to serve people better than their centralized alternatives.
As many best cryptocurrency news sites showed before this, Jack Dorsey’s love for Bitcoin is not something new. As he said, Bitcoin is the ideal candidate for a native currency of the Internet, something which he firmly believes is needed nowadays.
Dorsey’s comments were featured in an interview with The Sydney Morning Herald published today where he reaffirmed his long-standing commitment to the number one digital currency by market cap.
“I think open Internet standards serve every person better than ones controlled or started by companies,” Jack Dorsey said, showing that the openness of Bitcoin stood it in good stead to provide greater utility to users than the existing or forthcoming alternatives.
As such, Jack Dorsey believes that Bitcoin will one day be the dominant currency that is used online. This means that he shuns efforts like those of fellow social media firm Facebook. For the CEO of Twitter, Bitcoin does not only offer an open system of finance – but also proves itself as the most reliable and dependable cryptocurrency. Dorsey said:
“I think [Bitcoin’s] the best bet because it’s been the most resilient, it’s around for 10 years, it has a great brand and it’s been tested a bunch.”
It is evident that Dorsey has no intention of attracting regulatory heat right now (similar to Facebook) with plans to launch a cryptocurrency. However, the Circle and Twitter CEO is known to be a major financial contributor to a company that is developing the Bitcoin micro payments – the Lighting Network.
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