Dorsey, the CEO of digital payments company Square, which recently changed its corporate name to Block, is a noted superfan of Bitcoin since 2018.
Former CEO and co-founder of Twitter Jack Dorsey on December 21 tweeted that Bitcoin would replace the American dollar. The tweet was in reply to Grammy award-winning rapper Cardi B’s question on Twitter on whether the crypto would replace the greenback.
“Yes, Bitcoin will,” replied Dorsey to the question.
Following the tweet, prices of both Bitcoin and Ether jumped 5.6 percent on Coindesk. Bitcoin was trading at $48,677.03 and Etherium at $4,021.04 when the story went to print.
Dorsey, the CEO of digital-payments company Square, which recently changed its corporate name to Block, is a noted superfan of Bitcoin since 2018. In August this year, Dorsey had tweeted “#Bitcoin will unite a deeply divided country (and eventually: world).”
The former Twitter boss stepped down from the CEO’s post in November and was replaced by chief technical officer Parag Agrawal. During his tenure at Twitter, the tech billionaire was instrumental in enabling Bitcoin tipping on the platform and promised to integrate NFT authentication. Current CEO Agrawal is known to have been heavily involved in decentralised projects in Twitter.
In October, Dorsey had said Block, which has existing Bitcoin-focused projects, would look at building a Bitcoin mining system based on custom silicon and open source for individuals and businesses.
Also read: Jack Dorsey’s Decentralised Bitcoin Exchange: What is tbDEX and how is it different from other exchanges?
“If we do this, we’d follow our hardware wallet model: build in the open in collaboration with the community,” Dorsey had tweeted.
Meanwhile, the Twitter exchange between Cardi B and Dorsey prompted massive reactions on the social media platform.
Bitcoin investor Dennis Porter said: “If you would have told me in 2017 that a billionaire and a pop star would be talking about how #Bitcoin is going to replace the dollar I would have believed you because BTC is inevitable.”
Meanwhile, Dogecoin Co-Founder Billy Markus posted a meme trying to show that the Dogecoin was more stable than the US dollar.
Also read: Bitcoin may not last too long, says expert
(Edited by : Shoma Bhattacharjee)
First Published: IST