Technology

Bitcoin Will Replace US Dollar: Former Twitter CEO Jack Dorsey

Jack Dorsey’s Square has been weighing the creation of a hardware wallet for bitcoin.(Image Credit: Reuters)

Dorsey has also been voicing his criticism in relation to Web3, a term that is being used for a version of the Internet that is decentralised.

  • News18.com
  • Last Updated:December 22, 2021, 11:43 IST
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Twitter founder and former CEO Jack Dorsey believes that Bitcoin will replace the US Dollar. In a Twitter exchange with pop artist Cardi B, Dorsey said that he believes Bitcoin will replace the US Dollar. Cardi B, on her Twitter asked people if crypto will replace the US currency, to which Dorsey replied saying “Yes, Bitcoin will.” Dorsey now heads Block (erstwhile Square Inc), which is a payments and financial services company which he founded in 2009.

The interaction between Cardi B and Jack Dorsey about Cryptocurrency replacing US dollar got the expected attention on the social media platform. Dogecoin co-founder Billy Markus posted a meme in response about how Dogecoin is more stable than the US dollar. Further, Bitcoin investor Dennis Porter pointed out that “such a conversation was actually inevitable.”

After he stepped down as Twitter CEO, Jack Dorsey was reportedly planning to pursue his passion which includes focus on running Block (erstwhile Square Inc) and doing more philanthropic work, according to a source familiar with his plan.

Dorsey has also been voicing his criticism in relation to Web3, a term that is being used for a version of the Internet that is decentralised. Most recently, Dorsy, along with Tesla and SpaceX CEO Elon Musk, took a dig at venture capitalist firms being involved with web3. Musk on Tuesday tweeted, “Has anyone seen web3? I can’t find it.” To this, former Twitter top boss Dorsey replied, “It’s somewhere between a and z.”

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