Latest News

According to Jack Dorsey, Bitcoin is the only currency on the internet

On Block’s Investor Day, outspoken CEO Jack Dorsey expressed his aim to turn the payment startup into a digital behemoth with a global footprint and reaffirmed his firm belief in the future of blockchain technology and Bitcoin. He claimed that BTC is the only candidate for Internet money.

Block’s operations have developed to the point where they practically span every aspect of economic activity, according to the company’s CEO, it’s impossible to categorize them.

“We are no longer just a payments company. A lot has changed since our last investor day.”

It’s worth noting that the remarks were made at the firm’s first Investor Day in five years.

The bitcoin and music streaming industries, according to The Block’s CEO, should be valued as a “environment.” He also stated that the company’s efforts in Bitcoin, as evidenced by its Bank-like Cash App that allows peer-to-peer payments and BTC transactions, will continue to be its core approach.

Bitcoin as the Only Online Currency

According to a transcript obtained by CNBC, Dorsey commented on the relative slowness of Bitcoin advancements, stating that implementing money storage and transmission requires “deliberateness.”

Block’s crypto projects include a Bitcoin hardware wallet, a self-built Bitcoin mining system, TBD (previously known as Square crypto), an open-source, developer-focused company, and Spiral (formerly known as Square crypto) for promoting the use of the currency.

The BTC bull reiterated his commitment to the principal cryptocurrency, which he views as the only means of payment on the Internet:

“Internet requires a currency native to itself, and in looking at the entire ecosystem of technologies to fill this role, it’s clear that bitcoin is currently the only candidate.”

Related Posts – The Indian Finance Minister hails blockchain technology

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.