Jack Dorsey on Bitcoin: “It is the Currency of the Future”
$BTCUSD, $TWTR, $SQ
Jack Dorsey, speaking to a crowd of cryptocurrency enthusiasts, declared that he is in sync with their view that digital currencies are the way of the future.
“The Internet deserves a native currency; it will have a native currency,” Mr. Dorsey, the CEO of Twitter Inc. (NYSE:TWTR) and Square Inc.(NYSE:SQ), said Wednesday at Consensus, a blockchain and cryptocurrency conference in New York City.
“I don’t know if it’ll be Bitcoin or not,” he said, but “I hope it will be.”
Currently, Bitcoin is trading at: 8,356.9854,+163.641, or +2.00%, as of 7:35a BST, the market is open.
It is not the 1st time Mr. Dorsey had spoken fondly of digital currencies. The executive Tweeted in Y 2016 that he would “love to see a digital currency thrive.”
In his role at Square, he has helped promote cryptocurrency.
In Y 2014, the payments company started letting merchants accept Bitcoin. Since then, San Francisco-based Square has said it’s introducing Bitcoin trading for almost all users of its Cash App, which lets users send money to friends and family.
Not everyone at Square was as enthusiastic as Dorsey was about the move.
“I’ll be frank, this was a pretty contentious move in the company,” he said. A number of people at Square were skeptical about the technology and making access to digital currencies much easier. Even today, Mr. Dorsey added, there are debates and even fights over the topic, and some of the company’s board members are resistant to cryptocurrencies.
“This technology is a fundamental shift to our world and can have so many positive outcomes,” Mr. Dorsey said at the Consensus conference, the biggest of about two dozen events during New York’s “Blockchain Week.” “We have to do the work to educate regulators and educate the SEC why this technology is important.”
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