Twitter co-founder and known bitcoin enthusiast Jack Dorsey believes the world's leading cryptocurrency is poised to change the world — and that change could happen within the next few years.
Speaking at a special summer solstice gathering at a castle in Tuscany, Italy, last week, Dorsey expressed confidence to the distinguished audience that bitcoin will soon evolve from a store of value in the Western world to a major permissionless currency that holders will want to use on a daily basis.
“It's going to take time,” Dorsey said. Intimate conversation“Not 10 years, maybe 15 years. Little by little, people are starting to realize the value of this system,” he said at the event, hosted by legendary music producer Rick Rubin and titled “Technology and Freedom.” [and] Why is it so powerful?”
Dorsey said that if at that point Bitcoin becomes the go-to method for completing transactions not just in the Southern Hemisphere but everywhere, the on-chain currency could potentially oust the dollar and become the next global payment method on the planet.
“It could potentially … complement or replace the U.S. dollar to rule them all,” Dorsey said. Satoshi Nakamoto T-shirt and gold chain.
Technology entrepreneur who also founded a financial technology company blockHe stressed the importance of the global economy moving away from its current reliance on the US dollar and the Chinese yuan.
“These are two organizations that control the value of your money, not something you choose,” Dorsey said of the two government-issued currencies. [with] With Bitcoin, you have more control and more freedom of movement.”
Dorsey has long been one of Bitcoin's most prominent advocates. In May, he announced that the price of BTC had risen to 1.5 trillion yen. Solar Eclipse $1 million By the end of the decade.
Recent Blocks Involved The company announced that it would reinvest 10% of gross profits from bitcoin-related products and services into further purchases of the cryptocurrency. The company, which developed Square and Cash App, also Under investigation U.S. prosecutors have charged the company with alleged cryptocurrency-related compliance violations.
Editor: Andrew Hayward
