Twitter CEO thinks Bitcoin will be the Currency of the Internet

Twitter CEO thinks Bitcoin will be the Currency of the Internet

Twitter’s CEO Jack Dorsey just had a guest spot on Joe Rogan’s insanely popular podcast and reiterated his positive position on Bitcoin and cryptocurrency in general. He told Joe Rogan that he thinks the internet will eventually have its own currency and BTC is out in front in the race to be the chosen crypto. Dorsey doesn’t necessarily think mass adoption is imminent, but that worldwide cryptocurrency use will take hold soon.

“Not right now. I believe the Internet will have a native currency and I don’t know if it’s Bitcoin. I think it will be, given all the tests it has been through and the principles behind it, and how it was created. It was something that was born on the Internet, was developed on the Internet, was tested on the Internet, it is of the Internet.”

Back in June, Dorsey spoke about the potential of an internet currency at Consensus 2018 in New York in a very similar way.

“I’m just approaching with the principle that the Internet deserves a native currency. It will have a native currency. I hope it will be bitcoin. I’m a huge fan.”

Dorsey is also the CEO of Square which allows instant buying and selling of Bitcoin through the Cash App. He said the company first needed to wade into the cryptocurrency waters in an experimental fashion.

“The reason we enabled the purchasing of bitcoin within the Cash App is we wanted to learn about the technology and we wanted to put ourselves out there and take some risks.”

He explained that decentralized currency could become a global standard that makes everything move faster, but major financial institutions fear the technology could make their services obsolete.

“It’s certainly threatening to certain services behind banks and financial institutions. It’s threatening to some governments as well. So I just look at this like how can we embrace this technology and not react to it more from a threat standpoint?”

To see a captain of industry like Jack Dorsey speaking about the efficiency of cryptocurrency tends to lead to elated investors. However, Dorsey has warned against wild speculation and hopes to push the public towards using digital currency rather than the narrow mentality of “hodl” and wait for riches.

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