Weird! Former Twitter CEO Jack Dorsey Believes Bitcoin Will Replace the US Dollar

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Jack Dorsey recently announced his retirement from his position as the CEO of Twitter. He then announced that he would turn his attention to his new passion, cryptocurrency. Now, Grammy Award winner Cardi B has asked on Twitter whether bitcoin will replace the US dollar? To which Dorsey replied, “Yes, there will be bitcoin.”

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This conversation between Cardi B and Dorsey started a conversation on the subject with both supporters and detractors. Dogecoin co-founder Billy Marcus posed with a meme showing how the meme coin Dogecoin is more stable than the US dollar. While some others said that it is impossible and people should not fall into this pit.

To recall, Dorsey left Twitter to focus on his passion for cryptocurrency with his fintech firm Block, formerly known as Square. They have already announced that Block is looking to build a bitcoin mining system based on custom silicon. The system will be open source for individuals as well as businesses.

Dorsey had said that if Block develops a mining system, it will be based on their hardware wallet model, which was created in collaboration with the community.

To recall, Dorsey began advocating bitcoin as King Coin in 2017 and was invested in it. Even after the crypto market crash in 2018, he remained unfazed, still endorsing bitcoin and calling it the world currency of the future. Then in 2019, he revealed that he continues to spend several thousand dollars every week to deposit bitcoins. Their main reason behind supporting cryptocurrencies is the transparency of payments due to blockchain technology.

They also recently released a whitepaper for their decentralized bitcoin exchange proposal – tbDEX. He also confirmed to all investors that bitcoin will continue to be a large part of the company’s future.

Bizarre post! Former Twitter CEO Jack Dorsey believes that Bitcoin will replace the US Dollar which appeared earlier on BGR India.

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