By Gabriel Negrín
Twitter CEO Jack Dorsey has always had a soft spot for Bitcoin. Or should we call it a full-on love affair?
He believes that BTC is the future currency of the Internet. In his mind, Bitcoin is a game-changer.
At the recent Bitcoin 2021 conference in Miami he confessed what many people thought, namely that if he wasn’t working with Twitter and Square, he’d definitely be working in the Bitcoin space.
He even went so far as saying that if the Bitcoin space needed more help than Twitter and Square that he would leave for the former. But the truth of the matter is that both companies have an instrumental role in terms of the future of crypto.
To Dorsey, Bitcoin has the potential of creating a new financial infrastructure that among other things can offer a valuable option for underserved and unbanked communities. The same for people living in countries where hyperinflation can run rampant.
We know Dorsey’s love for bitcoin comes from way back. In February, he joined forces with the rapper and entrepreneur, Jay-Z to endorse a fund focused on the adoption of bitcoin in countries in Africa and India. They added 500 BTC to this fund known as ?trust. Their aim with this initiative is to promote bitcoin as a long-term path towards greater financial access for all.
But things haven’t ended there as Jack recently shared on Twitter that Square is planning on developing a Bitcoin hardware wallet. Safer than digital wallets, a hardware wallet holds digital currency without requiring an internet connection.
Square plans to build it from scratch. And even better, they want to design all the software and hardware with the help of the community.
The truth is that Jack set himself the task of fueling Bitcoin adoption. So over the past year, bitcoin purchases on Square have gone through the roof demonstrating growing consumer interest in crypto. And Square's Cashapp has been killing it thus far.
Now let's add a bitcoin hardware wallet to the equation. Not only has Square made crypto accessible for more people but they are doing it in a way that means more privacy all under the theme of "not your keys, not your coins.”
Despite the volatility of the crypto world, Dorsey sees the future in bitcoin. Will bitcoin be the currency of the internet as Jack says? Well, that’s hard to say. But BTC is definitely on the right path.
