Twitter CEO Says Bitcoin Will Become the World’s Currency
If you were not sure that Bitcoin was going to become the world’s currency, Jack Dorsey, CEO of Twitter and Square, confirms it. Talking to the Times of London he commented that in the next ten years Bitcoin could become the single currency of the world.
Jack Dorsey Supports Bitcoin
Twitter is one of the most important social platforms on earth. Cryptocurrency enthusiasts and respected figures use this social network in order to communicate with followers and the crypto space in general.
About Bitcoin, Mr Dorsey said that it is “slow and costly,” but according to him “as more and more people have it, these things go away. There are newer technologies that build off of blockchain and make it more approachable.”
He has also explained that Bitcoin does not have the capabilities right now to become an effective currency around the world. But in the future, as more people start to use it, and work with it, bitcoin will become the world’s single currency.
“I personally believe that it will be bitcoin. Probably over then years, but it could go faster,” he commented.
Square Launches In-App Bitcoin Buy/Sell
Some weeks ago, Jack Dorsey revealed that Square will allow users to purchase and sell bitcoins. Dorsey explains that Square supports bitcoin because they believe on it as a tool for greater financial access for all.
On his Twitter account, Jack Dorsey commented:
“Instant buying (and selling, if you don’t want to hodl) of Bitcoin is now available to most Cash App customers. We support Bitcoin because we see it as a long-term path towards greater financial access for all. His is a small step. We also made this!”
At the moment, there are some US states that are not able to use this functionality due to harder cryptocurrency regulations. Hawaii, New York, Wyoming, and Georgia have tighter positions towards cryptocurrencies, making it difficult for the platform to offer bitcoin services there. It is not expected that in the future these states will have this functionality unless they relax their cryptocurrency policies.