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Twitter CEO would be developing Bitcoin if he didn't work for the social network

The co-founder of Twitter and the payment firm Square, Jack Dorsey, expressed his optimism regarding the future of bitcoin during his participation in the Bitcoin Conference 2021 that takes place this 4 and 5 of June in Miami, United States. There he assured that if he were not in Square or on Twitter he would be working on the development of the most important cryptocurrency in the market.

In conversation with Alex Gladstein, director of strategy at Human Rights Foundation, Dorsey said that Bitcoin is a technology that changes absolutely everything. Therefore, “I don’t think there is anything more important in my life to work on” , he expressed, receiving the enthusiastic cheering of the public attending the event.

Yes If I needed more help than Square or Twitter, I would give them up for bitcoin. But I think both companies have a role to play. Anything I can do, whatever my companies can do, to make Bitcoin accessible to everyone, that’s what I’ll do for the rest of my life.

Jack Dorsey.

When asked by Gladstein on how Bitcoin can become a network that allows unbanked people to achieve greater financial sovereignty, the billionaire assured that the pioneering cryptocurrency has the potential to create a new financial infrastructure , more inclusive and comprehensive , suitable for communities underserved by the traditional financial system.

Dorsey also sees Bitcoin as a way to hedge against the devaluation of fiat currencies and accelerate cross-border fund transfers, he explained.

In that sense, he highlighted the advantages offered by the properties of blockchain networks to enable exchange between those who live in different countries around the globe. “I don’t think there is anything more empowering for people around the world.”

The CEO of Twitter affirmed that through his companies he strives because bitcoin will become the native currency of the Internet, This being one of the main reasons why Square got involved with this digital asset and not with other cryptocurrencies. So consider that in the coming years “more and more people” will use BTC in their day to day.

During Jack event Dorsey spoke with Alex Gladstein, director of strategy for the Human Rights Foundation. Source: Capture YouTube.

In fact, your financial services company added more than $ 170 million in bitcoins to its balance last February. This, after investing for the first time in the cryptocurrency in October 2020.

Consequently, as reported by CriptoNoticias at the time, the financial results of the first quarter of the year of the American company indicate that the appreciation of their treasury reserve in bitcoin was 114.5%. This equates to USD 272 million.

Assistants scold Dorsey for censorship on Twitter

At one point in the talk, the attendees interrupted Dorsey’s speech, accusing him of undue censorship of freedom of expression through Twitter.

Gladstein had asked him how the open source model of Bitcoin could inspire a social media platform that is free of censorship. The billionaire replied that would like to create a social network based on Bitcoin.

«When creating a new platform [de redes sociales]… entirely inspired by Bitcoin, we could do the same with Twitter, ”he commented as the boos continued. «I know they don’t believe me, I know they are calling me ‘a liar’. I’m going to show you, “he promised.

Dorsey’s remarks at the Bitcoin Conference coincided with the announcement that Square is” considering “launching a hardware wallet (cold wallet) for bitcoin.

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Sandra Loyd
Sandra is the Reporter working for World Weekly News. She loves to learn about the latest news from all around the world and share it with our readers.

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