Former Head of Twitter Believes Bitcoin Can Replace the US Dollar
Jack Dorsey reacted to the publication of famous hip-hop artist Cardi B.
Former Twitter CEO and co-founder of payments company Block (formerly known as Square) Jack Dorsey said Bitcoin could replace the US dollar. This is how Dorsey responded to the publication of the famous hip-hop artist Cardi B on Twitter.
One of the Dogecoin developers, Billy Marcus, also reacted to Cardi B’s post. Marcus jokingly replied that Dogecoin looks more stable than the US dollar.
At the end of November, Square CEO Jack Dorsey stepped down from his role as Twitter CEO. The company’s board of directors has approved the former technical director Parag Agrawal as the new head. After that, Square renamed itself Block as it focuses on technologies such as blockchain and expands beyond its original credit card-reader business.
In early December, Microstrategy CEO Michael Saylor stated that Bitcoin is not a competitor to the US dollar. According to Saylor, it is a global reserve asset, and the US dollar is the world currency. Saylor also predicted that Bitcoin would be the best way to hedge against inflation in the future.
“There will be volatility, but it seems to me that there is now a general recognition that the world needs an inflationary hedge. So if you have Bitcoin, don’t sell it,” advised the CEO of Microstrategy.
Michael Saylor is an avid proponent of digital assets. He said that Bitcoin would become the main store of value for the 21st century and called stricter regulation of mining and crypto trading in China a trillion-dollar mistake.
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