Jack Dorsey hails bitcoin community and says it reminds him of internet’s early days
Jack Dorsey says the bitcoin community reminds him of the internet as a kid
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Twitter chief Jack Dorsey is rooting for bitcoin to become the native currency of the internet, with part of the reason for his interest in the virtual currency being the “weird as hell” community driving it.
“What inspires me most is the community driving bitcoin, [which] reminds me of the early internet,” Dorsey said Wednesday at “The B Word,” a virtual online bitcoin conference.
The micro-blogging site’s founder said he hoped the virtual token would be the native currency of the internet due to its open nature and independence from traditional banking systems.
“If the Internet gets a native currency, what would that be? To me, it is bitcoin because of principles,” Mr Dorsey said during the panel discussion, where he shared the virtual stage with Tesla CEO Elon Musk, ARK Invest CEO Cathie Wood, and Square Crypto lead Steve Lee.
The Twitter co-founder said the bitcoin community is “weird as hell” and “always evolving.”
“It just reminded me of the internet as a kid,” Dorsey said, expressing hopes the cryptocurrency would help create world peace.
He added that the financial value of Bitcoin is only part of the focus of his payments company Square, which is developing solutions for the virtual currency’s payment ecosystem.
“As institutions and corporations like ours consider getting in this space, contribution back to the community is important. We can’t just see this as an asset … and an investment vehicle. This is something that has the potential to change everything,” Dorsey said at the conference.
This is not the first time the American billionaire has openly endorsed the virtual currency.
At the Bitcoin 2021 Conference in June, he said the cryptocurrency could protect against currency devaluation and enable faster cross-border fund transfer.
“Bitcoin absolutely changes everything. I don’t think there is anything more important in my lifetime to work on,” he noted.
In 2018, he said the cryptocurrency could eventually become the world’s “single currency.” Last year, Square purchased $50 million in bitcoin.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments