Former Twitter CEO Jack Dorsey Believes Bitcoin Will Replace US Dollar


Former Twitter CEO Jack Dorsey has said in a tweet exchange with Grammy-winning rapper Cardi B that he believes bitcoin will replace the US dollar. Cardi B asked on Twitter if crypto would replace US currency, to which Dorsey replied, “Yes, bitcoin will.” Dorsey, who now leads the digital payments and financial services company Block (formerly Square), which he co-founded in 2009, predicted in a series of exchanges on Twitter, in which he covered most of the hype surrounding Web3. rejected.

The conversation between Cardi B and Jack Dorsey about cryptocurrencies replacing the US dollar caused massive reactions on social media platforms. Dogecoin co-founder Billy Marcus posted a meme about how Dogecoin is more stable than the US dollar, while Bitcoin Investor Dennis Porter pointed out that “such conversations were virtually inevitable.”

dorsey, back in October, said that Block wants to build a bitcoin mining system based on custom silicon and open source for individuals as well as businesses. It will combine its existing bitcoin-focused projects, including a business as well as a hardware wallet, to create an open developer platform. cryptocurrency,

Dorsey had previously suggested that bitcoin would become a global currency for the Internet, but fell short of predicting that it would replace existing major currencies. Dorsey took a dig at investors, claiming that web3 – a collection of blockchain-based, decentralized applications that are believed to replace the Internet as we know it – under the same centralized control as the existing Internet.

“You don’t have ‘web3.’ The venture capital firm that funds the fund will eventually control its future rather than the users.

He isn’t the only crypto supporter who isn’t too happy with the new trend. Tesla and SpaceX CEO Elon Musk, called Web3 “BS” earlier this month, In a recent tweet, he offered a more nuanced opinion on the matter, claiming that the term sounds more like a “marketing buzz” than the future of the Internet.

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