In a recent flippant statement on the market’s second-largest cryptocurrency, Twitter CEO Jack Dorsey downplayed the platform’s ability to single-handedly disrupt the power structure in Big Tech.
Dorsey’s remark came after an internet argument on the utility of full-fledged incorporation of nonfungible tokens into Twitter, which Twitter user Seyitaylor claimed would assist Ethereum more than Twitter. Dorsey acknowledged that such a move would be more beneficial to the Ethereum ecosystem than to his own platform.
Despite Twitter’s earlier forays into the realm of NFTs, as well as Dorsey’s own usage of the technology to raise money for charity, Dorsey has remained a strong Bitcoin supporter, much to the dismay of both Ether fanatics and less partisan crypto enthusiasts.
In one Twitter thread, Garry Tan enquired into the mystery of Dorsey’s singular focus on Bitcoin, which Timothy Kim presented as the veteran cryptocurrency’s promise to serve as sound money, which he said was important, particularly for the internationally impoverished. Dorsey chimed in to concur, saying that he’s in Bitcoin to help solve the money and that he’s not trolling.
Dorsey also stated that while he agrees with the idea of NFTs, his support for Lightning has nothing to do with them and instead has to do with establishing a currency for the internet.
An early Bitcoin believer, Dorsey has repeatedly argued that Bitcoin will be the single currency of the internet. Dorsey earlier stated in a 2019 tweet, “I only have Bitcoin.” In July, Square, Jack Dorsey’s financial services firm, announced plans to collaborate with Jesse Dorogusker on a Bitcoin hardware wallet in order to boost mainstream acceptance.
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