Bitcoin Is Key to Twitter's Future & Will Become Internet’s "native currency,” Says Jack Dorsey

Bitcoin Is Key to Twitter's Future & Will Become Internet’s "native currency,” Says Jack Dorsey

Image: Financial News Herald

Twitter CEO Jack Dorsey has confirmed to investors that Bitcoin will be a "big part" of the future of the company he runs. He sees opportunities to integrate cryptocurrency into existing Twitter products and services.

Dorsey has been a supporter of bitcoin for many years, and on July 21 he also participated in the online conference, 'The ₿ Word,' where Tesla CEO Elon Musk and ARK Invest CEO Cathie Wood also spoke. Twitter's CEO said that Bitcoin reminds him of the early days of the Internet and that there was not “anything more important” in his life to working be on. "What inspires me the most [about Bitcoin] is the community driving it," Dorsey said. "It reminds me of the early days of the Internet."

A few days ago, Dorsey also named Bitcoin as one of three key trends for Twitter's future. Among others, he listed artificial intelligence and decentralization. He stated that Bitcoin could help the company move faster in terms of expanding its products, and also explained that it is the best candidate to be the native currency of the Internet.

“If the Internet has a native currency, a global currency, we are able to move so much faster with products such as Super Follows, Commerce, Subscriptions, Tip Jar, and we can reach every single person on the planet because of that instead of going down a market-by-market-by-market approach,” Dorsey explained. “I think this is a big part of our future. I think there is a lot of innovation above just currency to be had, especially as we think about decentralizing social media more and providing more economic incentive. So I think it’s hugely important to Twitter and to Twitter shareholders that we continue to look at the space and invest aggressively in it,” he added. This is the first time Dorsey has spoken publicly about how Twitter can integrate Bitcoin into its product line.

© 2021, Eva Fox. All rights reserved.


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About the Author

Eva Fox

Eva Fox

Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.

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