The CEO and co-founder of tech firms Twitter and Square, Jack Dorsey, are still overconfident in the world’s most valuable cryptocurrency, Bitcoin. In a tweet, Dorsey said that it would emulate the internet to gain mass adoption worldwide by becoming the Internet’s single native currency.
His other company, Square, lets users buy and sell bitcoin via its Cash app. Though Dorsey didn’t specify how much bitcoin he owned at the moment, the digital asset’s price has slumped more than 80 percent since an all-time high near $20,000 after it hit in December 2017.
Showing that he understands the real purpose of Bitcoin, Dorsey is much focused on Bitcoin as a digital currency and not as a mere investment opportunity. He said that the Cash App does not allow purchases of BTC via credit card to discourage users from putting themselves into debt, which could be a sudden risky investment.
Regardless of the hard start of Bitcoin in 2019, many analysts and commentators predict that the most significant crypto will bear the market that could run on well into most of 2019. However, it’s not everyone is predicting gloom and doom for bitcoin.
Dorsey has also promoted a social media game named “lightning torch,” where users add funds to a bitcoin payment and then pass the “torch” to another person so they can add funds and so on. Dorsey admits that he’s not sure if BTC will be the currency of the future, but he expects something will take that role. He hopes the cryptocurrency will eventually be the “native currency” of the internet.