Twitter CEO Jack Dorsey Explains Why Bitcoin is “The Best Internet Currency”

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Recently, Bitcoin (BTC) and decentralized finance (DeFi) tokens have been all the rage, with crypto investors anticipating BTC’s next bull run and the DeFi industry will grow rapidly.

Bitcoin and tech stocks have fallen back

At the time of writing, Bitcoin seems to be consolidating at the $10,000 level. Lately, BTC has fallen back, along with technology stocks. Market experts have been worked hard in studying BTC’s movements in order to predict its next bull run.

With the Federal Reserve’s plans to deliver COVID-19 relief, maybe that Bitcoin’s price will likely undergo another skyward surge, because the investors globally have been looking at it as a hedge against inflation.

Twitter’s Jack Dorsey: “Bitcoin is the best currency”

Blockchain and technology alliance founded by Dorsey

The Twitter CEO has long been a huge Bitcoin and blockchain advocate, and recently launched a “Cryptocurrency Open Patent Alliance” (COPA) through his payment company Square.

Through COPA, all blockchain patents shared in the library are protected and can be accessed by members of the alliance to further innovate their blockchain projects.

Dorsey thinks that Bitcoin is the future

As shared by Forbes, Dorsey has on numerous occasions backed Bitcoin, claiming that the digital asset will become the world’s sole currency by 2030. He also said: “I think the internet wants a native currency and I think bitcoin is probably the best manifestation of that so far.”

However, the Square CEO and founder acknowledged that there is still a lot of work to be done in the bitcoin and cryptocurrency industry before mainstream adoption could be achieved. Jack Dorsey asserted: “We have to build bitcoin in such a way that it is intuitive, it’s as fast and it’s efficient as what exists today, and goes beyond that too.”

Source: blockchain.news

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